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  3. the term debit means increase and credit means dec

the term debit means increase and credit means decrease. True or false? Explain your answer. Explain in...

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Accounting

the term debit means increase and credit means decrease. True orfalse? Explain your answer.

Explain in 100-150 words

Answer & Explanation Solved by verified expert
4.5 Ratings (832 Votes)
Well it depends on the nature or type of account you are actually debiting or crediting and the normal balance of those accounts An account by its nature can be classified into an asset account a liability account an expense or loss account or an income or gain account The normal    See Answer
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the term debit means increase and credit means decrease. True orfalse? Explain your answer.Explain in 100-150 words

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