debit

Meanings

• Verb

  The act of debiting or reducing the amount of a financial account or record by a certain amount.

  - "The bank debited my account for the rent payment."
  - "I debited the expense of the new laptop in my business ledger."

• Noun

  A charge or deduction made from an account or sum of money.

  - "The debit on my credit card statement was for a new pair of shoes."
  - "The company's profits were reduced by a large debit due to the recall."

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Pronunciation

1. /ˈdɛb.ɪt/
   
   
   
   Source: "https://commons.wikimedia.org/w/index.php?curid=711429"

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Antonyms

credit

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Rhymes

Words rhyming with debit
credit , asset , commit , abet

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Variants

List of all variants of debit that leads to same result
debit , debited , debiting , debits , debit card , debit cards , direct debit , on the debit side

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Etymology

origin and the way in which meanings have changed throughout history.

From the Latin word 'debitus' meaning 'owing, due, or debt'.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Did you know that the first recorded use of the word 'debit' was in 1552?

2. The term 'debit' is derived from the Latin word 'debitus', which means 'owing' or 'due'.

3. In accounting, debits are recorded on the left side of the ledger, while credits are recorded on the right side.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Credit: The opposite of debit, which refers to an addition or increase to an account or record.

2. Debtor: A person who owes money or a debt to another person or organization.

3. Debt-to-Equity Ratio: A financial ratio that measures the proportion of debt to equity in a company's capital structure.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

In literature, the term 'debit' is often used metaphorically to refer to a moral or ethical obligation. In art, it can be represented as a negative balance in an account or as a burden or debt.

How to Memorize "debit"

1. visualize
   

   - Imagine a bank account with a negative balance, representing a debit.

2. associate
   

   - Associate the word 'debit' with the idea of a reduction or deduction.

3. mnemonics
   

   - Use the mnemonic 'Debits Are Deductions' to remember the meaning of the word.

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