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Can you explain the difference between debit and credit in terms of financial transactions?
Debit and credit are two sides of the same coin in financial transactions. Debit means money is being taken out of an account, while credit means money is being added to an account. Debit decreases the balance, while credit increases it. Think of debit as a subtraction and credit as an addition in your financial records.
What is the difference between net credit and net debit in financial transactions?
The difference between net credit and net debit in financial transactions is that net credit means the total amount of money received or credited to an account, while net debit means the total amount of money paid out or debited from an account.
Will repeated declined transactions on a credit card affect your credit rating or affect how a bank views you as a loan candidate?
Declined transactions on a credit card would seem to indicate that you have exceeded your credit limit. Exceeding your credit limit will reduce your credit score. This means that a bank would take a very close look when you apply for more credit.
Can you explain what a credit on your account means?
A credit on your account means that you have money or funds available that can be used to make purchases or payments. It indicates that you have a positive balance in your account, which can be used for transactions or to cover expenses.
Can you explain what unsettled cash means in the context of financial transactions?
Unsettled cash refers to funds that have been deposited into an account but are not yet available for withdrawal or trading. This typically occurs when a transaction has been initiated but has not yet been fully processed or settled.
Can you explain the difference between debit and credit in terms of financial transactions?
Debit and credit are two sides of the same coin in financial transactions. Debit means money is being taken out of an account, while credit means money is being added to an account. Debit decreases the balance, while credit increases it. Think of debit as a subtraction and credit as an addition in your financial records.
What is the difference between net credit and net debit in financial transactions?
The difference between net credit and net debit in financial transactions is that net credit means the total amount of money received or credited to an account, while net debit means the total amount of money paid out or debited from an account.
Is credit a negative or a positive word?
It depends a bit on the context, but usually it is positive, like in: "giving someone credit for something". Checking someone's credit rating means seeing if he is good for his financial obligations.
What is meant by a web assured certified website?
It means it has security for financial transactions .
Will repeated declined transactions on a credit card affect your credit rating or affect how a bank views you as a loan candidate?
Declined transactions on a credit card would seem to indicate that you have exceeded your credit limit. Exceeding your credit limit will reduce your credit score. This means that a bank would take a very close look when you apply for more credit.
Can you explain what a credit on your account means?
A credit on your account means that you have money or funds available that can be used to make purchases or payments. It indicates that you have a positive balance in your account, which can be used for transactions or to cover expenses.
Can you explain what unsettled cash means in the context of financial transactions?
Unsettled cash refers to funds that have been deposited into an account but are not yet available for withdrawal or trading. This typically occurs when a transaction has been initiated but has not yet been fully processed or settled.
What does "write name of financial institution" mean when filling out a form or application?
"Write name of financial institution" means to write the name of the bank or financial organization where you have an account or where you plan to conduct financial transactions on the form or application.
What is difference between debit turnover and credit turnover?
1. Credit Turnover is the summation of all the credit transactions in your account during the statement period.2. Debit Turnover means the summation of all the debit transactions in your account during the statement period.3. (Opening balance of account) + (Credit Turnover) - (Debit Turnover) = Closing balance of account.
What is the duality concept?
The Duality Concept in accounting means that under this system all transactions are of a twofold nature and this means that data will be recorded in 2 accounts (credit and debit).
What does score mean in money?
In the context of money, "score" typically refers to a sum of twenty dollars. The term is often used in slang or informal settings, especially in discussions about transactions, debts, or financial dealings. For example, if someone says they need to borrow a score, it means they are asking for $20.
Can you explain what does "in credit" mean in financial terms?
"In credit" in financial terms means that a person or entity has a positive balance in their account or has money owed to them. It indicates that they have funds available to use or that they are owed money by someone else.
