What is debit and what is credit ?
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Answer / neha
Debit & Credit depends upon the criteria of principal
Debit is what comes in, all expenses & losses & the last
debit the receiver.
Credit is what goes out, all incomes & gains & the giver
| Is This Answer Correct ? | 13 Yes | 2 No |
Debit & Credit depends upon criteria of principal
1- debit is the receiver & credit is the giver
example. syham goods sold to ram ,
ram is a receiver dr
shyam is a giver cr
2- what come in debit & what goes out credit.
example. goods purchase for cash
purchase of goods (debit)come in
cash ( credit)goes out
3- all expenses & losses are debit & all income &gain are
credit.
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / deepak
Debit and credit are two fundamental elements of accounting
which represents both sides of each business transaction in
an organization
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / binu abraham
in fact there is a simple way.
debit is the one who recives,
and credit is the one who gives.
| Is This Answer Correct ? | 2 Yes | 6 No |
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