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The creditors of an organization are the companies and individual customers who owe the business for goods and services purchased on account.TrueFalse
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The creditors of an organization are the companies and individual customers who owe the business for goods and services purchased on account.TrueFalse

User Marc Van Daele
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5 votes

Answer:

The statement is: False.

Step-by-step explanation:

A creditor lends money to another person or entity or provides goods or services with the expectation of being paid back in the future. The creditor credits money as a loan. If the creditor is a bank or other type of financial institution, the loan will be documented with a formal agreement specifying the creditor and debtor's rights and duties.

User HanClinto
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