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Introduction to Book Keeping and Accountancy — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancyIntroduction to Book Keeping and Accountancy2 Marks
Question
Amount due from other person is known as debt.
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Answer

This statement is True.
Debt is a total sum of money due from a person with whom the business has dealings. Accordingly, a person from whom such debt is due to a business is called the debtor.

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