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What is debit and credit?
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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 |
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Audit 
