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What does the word credit mean in terms of accounting?

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What does the word credit mean in terms of accounting?
posted Jul 7, 2017 by Rupali Thakur

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A credit in an accounting sense is part of the most fundamental concepts in accounting, representing a side of each individual transaction recorded in any accounting system. A credit indicates that a transaction has occurred in which a liability or a gain was caused. A credit transaction can be used to decrease a debit balance or increase a credit balance.

answer Jul 8, 2017 by Swati Tyagi
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