1.

What is cash in hand ? debit or credit

Answer»

Answer:

payment for goods and services in cash rather than by cheque or other means, typically as a way of avoiding the payment of tax on the amount earned.

Explanation:

For example, if you debit a cash ACCOUNT, then this means that the amount of cash on HAND INCREASES. However, if you debit an accounts payable account, this means that the amount of accounts payable liability decreases. ... ASSET accounts. A debit increases the balance and a credit decreases the balance.



Discussion

No Comment Found

Related InterviewSolutions