What is the noun for discredit?

noun loss or lack of belief or confidence; disbelief; distrust: His theories met with general discredit. loss or lack of repute or esteem; disrepute. something that damages a good reputation: This behavior will be a discredit to your good name.

What is credit?

Understanding Credit. In the first and most common definition of the term, credit refers to an agreement to purchase a good or service with the express promise to pay for it later.

What are debits and credits?

Thus, the use of debits and credits in a two-column transaction recording format is the most essential of all controls over accounting accuracy. There can be considerable confusion about the inherent meaning of a debit or a credit. For example, if you debit a cash account, then this means that the amount of cash on hand increases.

What is breaking down credit?

BREAKING DOWN 'Credit'. In other cases, credit refers to a deduction in the amount one owes. For example, imagine someone owes his credit card company $1,000, but he returns a purchase worth $300 to the store. He receives a credit on his account and then owes only $700.