what is mean by debit purchase

Answers were Sorted based on User's Feedback



what is mean by debit purchase..

Answer / mohd bilal

debit purchase means that we purchase it or the goods are coming in. as we know that goods are assets we need to debit it.remember wheather the transaction is for cash bank credit always purchase account shows debit balance.

Is This Answer Correct ?    47 Yes 7 No

what is mean by debit purchase..

Answer / selvam

Debit Purchase means Cash purchase

Is This Answer Correct ?    34 Yes 14 No

what is mean by debit purchase..

Answer / jy

All kind of Cash and Credit purchase.

Is This Answer Correct ?    6 Yes 6 No

what is mean by debit purchase..

Answer / shilpa

Debit purchase means non cash purchase.. like purchasing from debit card is a debit purchase.

Is This Answer Correct ?    6 Yes 15 No

what is mean by debit purchase..

Answer / sam

A company that purchases debt from creditors at a discount. Debt buyers, such as a collection agencies or a private debt collection law firm, buys delinquent or charged-off debt at a fraction of the debt's face value.

Is This Answer Correct ?    1 Yes 11 No

Post New Answer

More Accounting General Interview Questions

Explain me how much mathematics knowledge is necessary or required in accounting?

0 Answers  


How is the accounting for lease transactions done?

0 Answers  


Accounting for vc money in financials

0 Answers  


wt is Bank Guarantee?wt the pr0 cedure of BG

1 Answers  


What is deffered tax liability / assets?

2 Answers  






what is factoring

1 Answers   Capital IQ, Pyroferus,


what are the transactional entries have to be passed in Letter of credit

2 Answers   Optimus,


What is journal entry for salary paid less deductions (e.g. fines for breaking a company's property)?

0 Answers   Faber Castell,


how to enter the tender refund amount in tally ?

0 Answers  


what is sundry debtors and creditors?

3 Answers  


What is Capital Market India in your own Words?

2 Answers  


lic (life insurance corporation)how much he or she as to deduct income tax on his gross annual salary. please give with examples

0 Answers   CPT,


Categories