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What is credit and debit??

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What is credit and debit??

Posted by Saloni ? 4 years, 1 month ago

CBSE > Class 11 > Accountancy

3 answers

Yogita Ingle 4 years, 1 month ago

A debit is an accounting entry that either increases an asset or expense account. Or decreases a liability or equity account. It is positioned on the left in an accounting entry.
A credit is an accounting entry that increases either a liability or equity account. Or decreases an asset or expense account. It is positioned on the right in an accounting entry.

Sahil Singh 4 years, 1 month ago

??

Nancy Dewangan 4 years, 1 month ago

Credit is the right side of an account. Debit is the left side of an account

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