Interested to Buy Any Domain ? << Click Here >> for more details...
What is debit and credit?
- 8 Answers
- 10250 Views
- I also Faced
- E-Mail Answers
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 |
What is a Post-Through Date in Payment Batches
WHAT IS ENTRY FOR CREDIT SALES?
Rent is direct income or indirect income
Do you know what is balance sheet?
I had this interview in 09. The interviewer kept on asking this question. Why do you want to join JP Morgan chase? can any1 give me a good answer...???
2 Answers IBM, JPMorgan Chase,
Where do we show "Dividend paid in FFS ,either in FFO or in FFS? what is teh concept behind?
Accounts Paybles & accounts Recivable are Real A/c , Personal or Nominal A/cs ?
what is the nature of expenses of a donation
what the three thing that can not make accounting statement balance?
What is the meaning of Journal Voucher? when u have to use this transaction tell me breif?
While closing books for the year end, We had Closing stock which is inclusive of VAT(i.e Cost price + VAT), What is the treatment of this Closing Stock in the P&L and BS , is Closing Stock Shown Inclusive of VAT (ie. Cost price +VAT) or, without VAT (ie. Cost Price)
Tell us what inspired you to move to the next opportunity?
Audit 
