Question

Debit word has been derived from Latin word 'debere' which means _______________.

• A. 'to owe'
• B. 'to give'
• C. 'to take'
• D. 'to believe'

Answer 1

Answer: (A)

'to owe'

'Debit' is a formal bookkeeping and accounting term that comes from the Latin word "debere", which means "to owe".

In bookkeeping, a debit is an entry on the left side of a double-entry bookkeeping system that represents the addition of an asset or expense or the reduction to a liability or revenue.