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Question
The word 'Credit' is derived from Latin word ________ .
The word 'Credit' is derived from Latin word ________ .
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Solution
The correct option is C credere
In financial accounting the term credit is used to define the second leg of any transaction. This has been taken from the Latin word "credre". Every business transaction has two impact i.e. debit and credit which is based on double entry system of accounting.
In financial accounting the term credit is used to define the second leg of any transaction. This has been taken from the Latin word "credre". Every business transaction has two impact i.e. debit and credit which is based on double entry system of accounting.
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