what is the debit and credit

Answer Posted / pitchaiah

Debit means receiving aspect
credit means giving aspect as per dual aspect concept

Is This Answer Correct ?    0 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Define vouching?

629


Why does a systems auditor need to use professional judgement when selecting audit procedures?

650


Explain the before an audit processes?

697


Should the duty of creating a purchase order be segregated from the duty of creating a vendor?

1747


whta is the current SBAR? Please provide the past rates from 1st january 2011 to till date.

1930






What is vouching?

621


what is the steel consumption per sq ft for ground plus 12 floors

1104


I WANT TO DO MY ARTICLE-SHIP FROM DELLOITS KOLKATA..PLEASE HELP??

1703


while calculating drawing power for the purpose of cc limit ,while deducting creditors from stock whether to consider debit balance of creditors ,in total of creditors' credit balance ?

1390


What Is Social Audit?

759


what supporting documents do we vouch to for sales, purchases, receivables, payables, sales cutoff, and liabilities cutoff?

5988


purchase price of property purchased within last 3 years is to be relied upon not and not on revalued amount for the purpose of loan against properties.

1642


What should the internal auditor?

622


How to Computation Advance Tax For First Quarter

1751


Explain intangible assets?

766