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what is meant by debit and credit
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Answer / saikrishna
Debit means what we recive in any business
Credit means what we give in propotion
| Is This Answer Correct ? | 84 Yes | 21 No |
Answer / hemlata
Debit is left and Credit is Right.Dr means receiving and cr
means giving.In acounts we us these two terms.
| Is This Answer Correct ? | 67 Yes | 27 No |
Answer / arjunanag@rocketmail.com
these are golden rules of accounting.
debit : what comes in
credit : what goes out
| Is This Answer Correct ? | 47 Yes | 7 No |
Answer / guest
What comes in, The Receiver All expenses & Losses
Credit means, What goes out, the giver, all incomes and
revenues
| Is This Answer Correct ? | 33 Yes | 7 No |
Answer / shylaja
Debit means the benefit receiving aspect.
Credit means the benefit giving aspect.
| Is This Answer Correct ? | 30 Yes | 9 No |
Answer / shiva kumar 9848083705
DEBIT MEANS RECIEVING ASPECT.
CREDIT MEANS GIVING ASPECT.
| Is This Answer Correct ? | 21 Yes | 3 No |
Answer / rajesh kumar panigrahi
In the language of book -keeping ,debit means the left hand
side of a T-form account ,and credit means the right hand
side of the T-form account. There is no other meaning.When
we say debit what comes in , credit what goes out etc. etc.
we are only talking of the golden rules of accounting
| Is This Answer Correct ? | 17 Yes | 1 No |
Answer / sheshu babu
debit means left hand side credit means right hand side
debit; what comes in
credit;what goes out
there are golden rules of accounts
| Is This Answer Correct ? | 16 Yes | 1 No |
Answer / ram prasad
Debit means who owes money to the business
credit means to whom owes money by the business
| Is This Answer Correct ? | 15 Yes | 7 No |
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Actually we had Posted P.V.C bills to Indian Railway the total bills amount is Rs.10,00,000/-, and government had passed only Rs. 8,00,000/- and gov. had said that there are no more P.V.c bills are lying outstanding in their a/c, so for now are claiming Rs. 2,00,000/- as loss on sale, i m totally confused what would be the impact on the Profit and loss a/c , and in which group it will come,if I do a entry of:- dr. Central sale @12.5% a/c Rs.2,00,00/- Cr. Loss on sale a/c Rs.2,00,000/- or Will i adjust the Cst@12.5% on Pricipal Value, or will i pass on the entry on total amount i.e Rs.2,00,00/- Plz guide,me soon.
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Audit 
