CA Foundation Exam  >  CA Foundation Questions  >  The person to whom the guarantee is given is ... Start Learning for Free
The person to whom the guarantee is given is called _______
  • a)
    creditor
  • b)
    debtor
  • c)
    surety
  • d)
    third party
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
The person to whom the guarantee is given is called _______a)creditorb...
Explanation:


  • Creditor: A creditor is a person or institution to whom money is owed.

  • Debtor: A debtor is a person or institution that owes money to another.

  • Surety: A surety is a person who takes responsibility for the debt of another person, in case the debtor fails to fulfill their obligations.

  • Third Party: A third party is a person or entity that is not directly involved in a transaction but may be affected by it.


Based on the definition provided, the correct answer is creditor. The person to whom the guarantee is given is the one who is owed the money, hence they are the creditor in this situation.
Explore Courses for CA Foundation exam
The person to whom the guarantee is given is called _______a)creditorb)debtorc)suretyd)third partyCorrect answer is option 'A'. Can you explain this answer?
Question Description
The person to whom the guarantee is given is called _______a)creditorb)debtorc)suretyd)third partyCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The person to whom the guarantee is given is called _______a)creditorb)debtorc)suretyd)third partyCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The person to whom the guarantee is given is called _______a)creditorb)debtorc)suretyd)third partyCorrect answer is option 'A'. Can you explain this answer?.
Solutions for The person to whom the guarantee is given is called _______a)creditorb)debtorc)suretyd)third partyCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of The person to whom the guarantee is given is called _______a)creditorb)debtorc)suretyd)third partyCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of The person to whom the guarantee is given is called _______a)creditorb)debtorc)suretyd)third partyCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for The person to whom the guarantee is given is called _______a)creditorb)debtorc)suretyd)third partyCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of The person to whom the guarantee is given is called _______a)creditorb)debtorc)suretyd)third partyCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice The person to whom the guarantee is given is called _______a)creditorb)debtorc)suretyd)third partyCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev