Examlex
The angle between true north and the direction in which a compass needle points is called the angle of
Debit
An accounting entry that increases assets or expenses or decreases liabilities, equity, or revenue.
Credit
The granting of a loan and the creation of debt; any form of deferred payment.
Normal Balance
The typical side (debit or credit) on which an account increases, depending on the type of account.
Debit Balance
A balance in a financial account where the total debits exceed the total credits, common in asset and expense accounts.
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