Question

What is the meaning of debit and credit in accounting terms...???​

Answer 1

Answer:

Understanding Debit (DR) and Credit (CR)

On a balance sheet or in a ledger, assets equal liabilities plus shareholders' equity. An increase in the value of assets is a debit to the account, and a decrease is a credit.

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Answer 2

Answer:

On a balance sheet or in a ledger,assets equal liabilities plus shareholders equity.An increase in the value of assets is a debit to the account,and a decrease in a credit.