what is meant by debit and credit
- 4 Answers
- 5481 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / tirumal reddy
In the double etry of accounting every transaction has
two aspects giving and receiving aspect.according
principles.
1.personal account
DR:RECEIVER
CR:GIVER
2.Real account
DR:WHAT COMES IN
CR:WHAT GOES OUT
3.Nominal account
DR:Expenses and losses
CR:Incomes and gains.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / amit kumar tiwari
In double entry system in every transaction you should
debit one account and credit other account as per
accounting rules.
1. Personal Account
2. Nominal Account
3. Real Account
The basic idea behind one account will increased and the
other one will decrease
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / rohit
Residing aspect of a business transaction is called Debit
Giving aspect of a business transaction is called Credit
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / g k renjit
In double-entry bookkeeping, entry on the left-hand side of
an account record. It has the effect of decreasing a
liability, or revenue account, or increasing an asset or
expense account & an entry on the right-hand side of an
account record in double entry bookkeeping. It has the
effect of decreasing an asset or expense account, or
increasing in the value a liability or revenue account.
| Is This Answer Correct ? | 0 Yes | 0 No |
what is a promissory note ?
Hey guyz I m looking for a Job in Accounts Sector can anyone help me I hve 2 yrs of work experience...
HI, i was given only 1st round and i made it through the first round, then was sent for the final HR round.In the HR round the HR manager dint ask me a single question of the related job,all he asked was as following:- i)what are your salary Expectations ii)are you ok to do night shifts.then he thanked me and said he will let me know by 2 days,when i asked him for any feedbacks and suggestions he said that he will let me know only after 2 days.SO please help me what shall i expect from this one of a kind interview. Many thanks in advance.
0 Answers Franklin Templeton, TTC,
A firm pays commission to its manager @10%on profits arrived at after charging such commission.What will be the amount of commission if the profits before charging such commission is Rupee 22,000?
Why in SAP external number range should be selected for depreciation posting . any specific reasons for that explain me? Raj
what is the deference between depreciation explanation
Is it possible contra entry in SAP FICO
what is journal entries
What is meant by partitioning?
How do you prepare a balance sheet from a trial balance?
definition of Accounts types of accounts debit and credit definition debit and credit rules accounting rules
What is a trial balance in accounting?
Audit 
