- *double entry bookkeeping which increases *liabilities, *revenues, and *equity, or reduces *assets and *expenses. A credit entry has a corresponding *debit entry (or debit entries) of equal value.
Auditor's dictionary. 2014.
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credit entry — noun an accounting entry acknowledging income or capital items • Syn: ↑credit • Ant: ↑debit (for: ↑credit) • Derivationally related forms: ↑credit (for … Useful english dictionary
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entry — A declaration and request for customs release in respect of imports or goods intended for export. It is usually made on a Single Administrative Document ( SAD). Traders approved to do so can submit entries electronically. HM Customs & Revenue… … Financial and business terms
credit — 1) The reputation and financial standing of a person or organization. 2) The sum of money that a trader or company allows a customer before requiring payment. 3) The funding of members of the public to purchase goods and services with money… … Accounting dictionary
credit — 1. The facility to purchase a good or service or to take a *loan on the promise of payment at a future date. 2. An abbreviated term for *credit entry. 3. An abbreviated term for *credit limit. 4. Public praise or recognition … Auditor's dictionary
credit — cred·it 1 n 1: recognition see also full faith and credit 2 a: the balance in an account which may be drawn upon and repaid later compare loan … Law dictionary
credit — [kred′it] n. [Fr crédit < It credito < L creditus, pp. of credere: see CREED] 1. belief or trust; confidence; faith 2. Rare the quality of being credible or trustworthy 3. a) the favorable estimate of a person s character; reputation; good… … English World dictionary