what is debit
Answers were Sorted based on User's Feedback
Answer / jyothi
An amount of money borrowed and owed by one party to another
Is This Answer Correct ? | 8 Yes | 0 No |
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.
Is This Answer Correct ? | 8 Yes | 0 No |
Answer / hrishi
Debit means
1 the assets which comes in
2 the espenses incurred
3 the receiver
Is This Answer Correct ? | 6 Yes | 0 No |
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.
Is This Answer Correct ? | 4 Yes | 0 No |
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.
Is This Answer Correct ? | 3 Yes | 1 No |
Answer / ramakrishna
According to the accounting terminology the term debit
tells about the receivig aspect of the transaction.
Is This Answer Correct ? | 2 Yes | 0 No |
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 "+"
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / j.s.vinuram
Debit means debt, withdrawal, loans borrowed.
Is This Answer Correct ? | 1 Yes | 0 No |
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