CREDIT RECORD Definition

Bookmark and Share

CREDIT RECORD (CR) is an entry in a double-entry bookkeeping system recording an increase in a liability; an owners equity item or revenue; or a decrease in an asset or an expense. Credit entries are conventionally made on the right-hand side of T accounts.

Learn new Accounting Terms

EQUITY-TO-ASSET RATIO expresses the proportion of total assets financed by the owner's equity capital. It is the reciprocal of the debt-to-asset ratio.

RESCIND is to revoke, cancel, or repeal a law, order, or agreement.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.