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✨ EY Prep 🩷
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Accounting
🟢 Easy
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What does 'debit' and 'credit' mean in accounting?
A.
Debit = money in; Credit = money out (like a bank account)
B.
Debit = left side of the ledger; Credit = right side. Debits increase assets and expenses; Credits increase liabilities, equity and revenue
C.
Debit and credit are interchangeable terms
D.
Debit = positive; Credit = negative