Answer / jyothi

An amount of money borrowed and owed by one party to another

Answer / ahuja

Account is divided into two parts.Left hand side is known
as 'Debit side' and right hand side is known as 'credit
side'.Amounts entered on the debit side are called debits
and amounts on the credit side credits. To debit means 'to
make an entry on the left hand side of the account'and 'to
credit means ' to make an entry on the right hand side of
an account'. The words debit and credit have no other
meaning in accounting.
In finance dedit means to have debit balance of the other
party.It is like a borrowing from others.

Answer / hrishi

Debit means
1 the assets which comes in
2 the espenses incurred
3 the receiver

Answer / vandana gupta

An accounting entry which results in either an increase in
assets or a decrease in liabilities on a company's balance
sheet or in your bank account.

Answer / guest

An expense, or money paid out from an account. A debit
transaction is one which the net cost is greater than the
net sale proceeds. See also Credit.

Answer / ramakrishna

According to the accounting terminology the term debit
tells about the receivig aspect of the transaction.

Answer / murali krishna katakam

debit means receiving aspect , that means there is inflow
of benifit to the organization/entity ,simply we can say
debit means "positive" ie "+"

Answer / j.s.vinuram

Debit means debt, withdrawal, loans borrowed.

Answer / anuj

When a business transaction is made between two person or
between companies, then to whom the goods or services are
supplied is called the debtors. And this is called debit.

Answer / babanagoud

record of a sum of money owed or spent

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