Accountancy Readiness Test 1 Practice

In accounting history, what is the meaning of the Latin term Debere?

Havere Debtor Debere Credere

Correct Answer:

Debere

Explanation:

Debere means to owe. In early double-entry accounting, Latin verbs labeled what the business owes (the debit side) and what it is owed (the credit side). Habere means to have or hold, not the act of owing. Credere means to entrust or believe, used for the credit concept. Debtor is a person who owes, not the action itself. So Debere best captures the idea of owing money.

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