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Home > QFINANCE Dictionary > Definition of debit

Definition of

debit

Accounting

charge against account in bookkeeping a bookkeeping entry that shows an increase in assets or expenses, or a decrease in liabilities, revenue, or capital. It is entered in the left-hand side of an account in double-entry bookkeeping.

Definitions of ’debit’ and meaning of ’debit’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’debit’ and other financial terms with our online QFINANCE Financial Dictionary.

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