What is Cr or Dr and how it's work

Question

Accepted Answer

Cr or Dr stands for Credit and Debit respectively. They are used in accounting to record financial transactions.

Cr is used to record a credit transaction, which increases the balance of an account.
Dr is used to record a debit transaction, which decreases the balance of an account.
In double-entry bookkeeping, every transaction has an equal amount recorded as both Cr and Dr.
Cr and Dr are abbreviated terms commonly used in financial statements and ledgers.
For example, if a company receives cash from a customer, it will be recorded as a Cr in the cash account and a Dr in the accounts receivable account.

Accepted Answer

Cr full form is Credit it means Amount Credited in Our Acount 
Dr full is Debit it means Amount Debited in Our Account

Popular interview questions of Field Executive