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According to the double entry system of accounting, an account that obtains benefit is: A) Credit B) Debit C) Income

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تم إضافة السؤال من قبل Adnan Mustafa , Credit Controller , National Refreshment Company LLC
تاريخ النشر: 2013/06/12
Tahir Mahmood
من قبل Tahir Mahmood , Freelance Accountant , Mazdoo Accounting

Benefit? if sale than cr, if assets than dr, if salary than dr, if loan than cr

Mohamed El Machichi
من قبل Mohamed El Machichi , Purchase Manager , Berkat Madinah Trading Sdn.Bhd

A) Credit

Nouman Masood
من قبل Nouman Masood , General Accountant , Ascend Advance Health Care Solutions

In double entry system all the debits and credits must be equal

depends...
if it is an asset account gaining benefit then it is debited..
if income/equity account gaining benefit then it is credited...

Musa Muhammad Dandikko
من قبل Musa Muhammad Dandikko , Ag. Head of Procurement , Federal College of Education, Katsina

According to the double entry transaction, the account that receives benefit is the one to be debited. While the other account on the other hand is credited

Muhammadh Abubacker
من قبل Muhammadh Abubacker , Auditor & Team Leader , Al-Dahabi Audit & Consultancy Services

A) Credit.

Muhammad Imran
من قبل Muhammad Imran , Senior Corporate Accountant , Qatar Petrochemical Co. (QAPCO)

Question is incomplete and has undefined scope. "Account" in accounting has a very broad scope, whithout specifying type of account its impossible to answer. otherwise all given answer A, B & C are correct for different types of accounts. 

Ravshanbek Abdullaev
من قبل Ravshanbek Abdullaev , Accountant , Fajr Al Mustaqbal General Trading LLC

all options can be included, but usually assets defined as a resource from which economic benefits are expected to flow into entity (IFRS)

if assets then debit,

Sayed Aziz  Ahmed
من قبل Sayed Aziz Ahmed , Accounts Manager , Ergoflex (I) Pvt. Ltd.

According to the double entry system of accounting, an account that obtains benefit is: B) Debit Accounting Rule : Debit the receiver Credit the giver

Ihab Merhi
من قبل Ihab Merhi , Director of Finance and Administration , IBH Levant and Africa SAL

it can be all of them

it depends on the account type

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