What is debit and credit?
Answers were Sorted based on User's Feedback
Answer / monu aggarwal b.com accountant
Hi,Minakshi! when we purchase some materials or get some
money from other party,then we make credit to that
particular party's a/c
& when we send materials or give money to other party,then
we make debit to that particular party's a/c.
debit = We will go to get some money
Credit = we will go to give some money.
Is This Answer Correct ? | 5 Yes | 2 No |
Answer / shameel ahmed.c
Debit is a incoming aspect of business transactions.
Credit is a outgoing aspect of business transactions.
Is This Answer Correct ? | 2 Yes | 1 No |
Answer / kiran kumar .r 9700473904
here the question is what debit is and what credit is? not
priciple.....
Debit is receiving benefit
Credit is giving or outgoing benefit.
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / khalil
very simple
Dr. and Cr. are two aspects of accounting.
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mahammedrafi b
Debit - what comes in
Credit - what goes out
Without these transaction no business/banking/commercial transaction
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / meenakshirani
what comes in debit and what goes out are credit.
Is This Answer Correct ? | 3 Yes | 7 No |
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