Preferred Creditor
Barron's Accounting Dictionary:
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Preferred Creditor
One having priority over another creditor when the company becomes bankrupt. For example, a secured creditor (who has secured assets in support of his claim) has precedence over a general creditor (who has loaned money to the business without collateral).
| Preemptive Right, Predetermined Overhead Rate, Predecessor Auditor | |
| Preferred Stock, Preliminary Audit, Premium |
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Preferred Creditor
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Barron's Accounting Dictionary
Dictionary of Accounting Terms. Copyright © 2010 by Barron's Educational Series, Inc. All rights reserved.
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