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what is meant by credit?

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neivindamin
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credit means to give loan or to take loan and debit means you have to give money back.
Post Fri Feb 24, 2012 11:51 am
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Androidgamed
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Debit in the sense the amount which are going out from your or your bank account. Credit in the sense the amount of money which are coming to you or to your bank account from outside.
Post Tue Sep 03, 2013 7:19 am
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soybean
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The numerous posts here a generally not very good descriptions of terms. But, without some response from the person who started this discussion to clarify what he had in mind, replies are somewhat like floundering around in the darkness.
Post Tue Sep 03, 2013 4:55 pm
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coaster
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There's a lot of that "floundering" goes on around here, I'm afraid. Laughing

~Tim~
Post Tue Sep 03, 2013 4:57 pm
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benzmen
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Nicely defined the term credit by all. But it is better to know practically what credit is after all read about it. It can be known through the usage of Credit cards, borrowing loans, postpaid bills, cibil scorings etc.
Post Thu Oct 10, 2013 6:44 am
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stockbrokers
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Credit (from Latin credere translation. "to believe") is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead arranges either to repay or return those resources (or other materials of equal value) at a later date - wikipedia



What your stock broker doesn’t want you to see.
Post Fri Oct 03, 2014 3:20 am
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Mica
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A journal entry recording an increase in assets. With cash basis accounting, credits are recorded when income is received. With accrual basis accounting, credits are recorded and recognized when income is earned. Compare to Debit.
Post Fri Feb 06, 2015 4:31 pm
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eddie007
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Post Sun Sep 03, 2017 6:00 am
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