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What does the word credit mean in terms of accounting?


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More Accounting General Interview Questions

when a customer buys a good. we have to debit bank and credit inventory equaly. but wouldnt selling a good make a profit?

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how can i improve my accounting. i want to know make balance sheet so how can i do ?

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What are mis reports and do you prepare it?

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Equipment A has a cost of Rs.75,000 and net cash flow of Rs.20000 per year for six years. A substitute equipment B would cost Rs.50,000 and generate net cash flow of Rs.14,000 per year for six years. The required rate of return of both equipments is 11 per cent. Calculate the IRR and NPV for the equipments. Which equipment should be accepted and why

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If vendor is deducting TDS amt while paying, how to pass entry inbooks. Will it be TDS recoverable/TDS payable a/c. kindly clarify

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What is an asset, an expense, a liability, revenue and equity?

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what is the entry for toll gate fee

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what is the accounting treatment in tally of free goods received with goods purchased.

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what is finance management?

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