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Saturday 19 March 2011

Concept of Debit Credit and Duality

1. Debit: Any increase on the left hand side of the equation.
2. Credit: Any decrease on the left hand side of the equation.
3. Debit: Any decrease on the right hand side of the equation.
4. Credit: Any increase on the right hand side of equation
Based on above Accounting Equation one can derive following four classifications

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Posted by Satyavani.K at 04:12
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