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1. Noun.

That which is owed to another, usually money.

For the borrower, debt is a liability.

2. Borrowing.

From the perspective of the borrower, finance from borrowing, rather than from investment by equity shareholders.

3. Lending.

From the perspective of a lender or investor in debt, an investment in the obligations of the borrower.

For the lender or investor, debt is an asset.

See also

Other links

Masterclass: The basics of borrowing, Will Spinney, The Treasurer