Flash Education

Question

State True or False : A man who takes a loan is called a debtor.

Simple Interest

December 27, 2023

Answer

True.

Explanation

A man who takes a loan is indeed called a debtor. In financial terms, a debtor is an individual or entity that owes money to another party, typically in the form of a loan or credit. The debtor is obligated to repay the borrowed amount, and they are often referred to as the borrower or debtor in the context of financial transactions.

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