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Tutor's Tips > Terms of Financial Accounting > Archive for Other general terms

Category: Other general terms

What is the meaning of Credit in Accounting

March 20, 2019October 10, 2020 Amanpreet Kaur
Meaning of Credit

In normal Language the meaning of credit, we have learned as the amount payable to someone. In Accounting credit means subtracting some amount form the account. Meaning of Credit: – It is adding an amount of cash or fund into Read More …

Other general terms, Terms of Financial Accounting2 Comments

What is the meaning of Debit in Accounting

March 19, 2019October 9, 2020 Amanpreet Kaur
Meaning of Debit

Meaning of Debit is adding an amount of cash or fund into the expenses or assets accounts and subtracting from the owner’s equity, liabilities or income accounts. ‘Debit’ word comes from the Latin word debate which means to owe. The Read More …

Other general terms, Terms of Financial Accounting2 Comments




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