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1) What is mean by debit, credit
2) what is mean by purchase, sales
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Answer Posted / monisha
1)debit means what comes in business,That is all expenses
and lossess.
2) The term credit means what goes out from business, that
is all incomes and gains.
3) Goods brought for the purpose of resale is known as
purchase.
4 )For earning income or revenue,goods are exchange to
customers is known as sales.
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