what is meant by debit and credit
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Answer / saikrishna
Debit means what we recive in any business
Credit means what we give in propotion
| Is This Answer Correct ? | 84 Yes | 21 No |
Answer / hemlata
Debit is left and Credit is Right.Dr means receiving and cr
means giving.In acounts we us these two terms.
| Is This Answer Correct ? | 67 Yes | 27 No |
Answer / arjunanag@rocketmail.com
these are golden rules of accounting.
debit : what comes in
credit : what goes out
| Is This Answer Correct ? | 47 Yes | 7 No |
Answer / guest
What comes in, The Receiver All expenses & Losses
Credit means, What goes out, the giver, all incomes and
revenues
| Is This Answer Correct ? | 33 Yes | 7 No |
Answer / shylaja
Debit means the benefit receiving aspect.
Credit means the benefit giving aspect.
| Is This Answer Correct ? | 30 Yes | 9 No |
Answer / shiva kumar 9848083705
DEBIT MEANS RECIEVING ASPECT.
CREDIT MEANS GIVING ASPECT.
| Is This Answer Correct ? | 21 Yes | 3 No |
Answer / rajesh kumar panigrahi
In the language of book -keeping ,debit means the left hand
side of a T-form account ,and credit means the right hand
side of the T-form account. There is no other meaning.When
we say debit what comes in , credit what goes out etc. etc.
we are only talking of the golden rules of accounting
| Is This Answer Correct ? | 17 Yes | 1 No |
Answer / sheshu babu
debit means left hand side credit means right hand side
debit; what comes in
credit;what goes out
there are golden rules of accounts
| Is This Answer Correct ? | 16 Yes | 1 No |
Answer / ram prasad
Debit means who owes money to the business
credit means to whom owes money by the business
| Is This Answer Correct ? | 15 Yes | 7 No |
WHAT ARE LIMITATIONS OF ACCOUNTS ?
1. A firm buys stock for $100 by cheque and intends to sell it for $200, so the double entry should be a) Debit bank $100 and credit stock $ 100 b) Credit bank $ 200 and debit stock $ 200 c) Debit purchases $100 and credit sales $ 200 d) Debit purchases $ 100 and credit bank $ 100
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