What is the difference between debit and credit?

Question Posted / harsha

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What is the difference between debit and credit?..

According to three golden rules of accounting:

1.Personal account: Debit the receiver
Credit the giver
2.Real account: Debit what comes in
Credit what goes out
3.Nominal account: Debit all expenses and losses
Credit all incomes and gains

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What is the difference between debit and credit?..

Answer / bhaskar

in PA DEBIT RECIVER ,CREDIT GIVER
IN RA DEWBIT WHAT COMES CREDIT WHAT GOES
IN NA DEBIT AII EXPANSESS,LOSSESS AND CREDIT ALL
PROFITS ,INCOMES

Is This Answer Correct ?

4 Yes

2 No

What is the difference between debit and credit?..

Answer / gulzar singh

Debit and credit is to aspects on which all accounting is
based. these two word are the foundation of accounting.

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1 Yes

1 No

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