INTERVIEW QUESTIONS ACCOUNTS TRANSACTIONAL ACCOUNT DETAILS

Question: What is debit and credit from the banks point of view?

Answer: Credit what comes in

Debit what goes out

Credit what comes in

Debit what goes out
Source: CoolInterview.com

In general we categorise debit and credit based on different accounting types likewise personal, real and nominal account. But when it comes to bank perspective, debit indicates withdrawls and credit indicates deposits which the customers maintain their accounts with the banks.

1- for personal a/c
receiver dr
giver cr

2- real a/c
assets dr
cash or bank cr

3- nominal a/c
exp dr
cash or bank cr

Source: CoolInterview.com

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