What do you understand by a credit in accounting?


What do you understand by a credit in accounting?


Accounting refers to the process that explains various steps to record and maintain accounting information in the books of a business entity. Accounting follows some assumptions, principles, and standards to prepare the financials of a business concern.

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Every account contains two sides- debit and credit. The left side of an account denotes debit amounts, and the right side depicts the credit aspect of...

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Recording Business Transactions in Accounting


Chapter 3 / Lesson 7

Learn about recording transactions. Understand what recording transactions is, examine the process of recording transactions, and identify its importance.

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