What are the golder rules of Accounts ?
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Answer / thulasiram gummalla
R1 Personal : Debit the receiver, and credit the giver.
R2 Real : Debit what comes in, and credit what goes out.
R3 Nominal : Debit all expenses, and losses and
credit all incomes, and gains.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / m.p.ganesh
There are 3 types of accounts:
1.Personal a/c
2.Real a/c
3.Nominal a/c
Rules for these accounts are as follows:
1.For Personal a/c:
Debit: The reciever
Credit:The Giver
2.For Real a/c:
Debit: What comes in
Credit:What goes out
3.For Nominal a/c:
Debit: All expenses and losses
Credit:All incomes and gains...
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / manash roy chawdhury
rule 1 - dedit is incoming where as credit is outgoing
rule 2 - keep record both in debit as well as in credit.
rule 3 - debit all the losses and outgoing and cerdit all
the gains and incomings
| Is This Answer Correct ? | 22 Yes | 27 No |
a) Nominal: Debit the receiver, Credit the Giver
B) Real: Debit what comes in, Credit what goes out,
c) Personal: Debit all expenses/losses, credit all incomes/
Gains
| Is This Answer Correct ? | 68 Yes | 83 No |
Answer / shailendra kumar
GOLDEN RULES OF ACCOUNTING are: 1. Debits ALWAYS EQUAL
Credits;
2. Increases DO NOT NECESSARILY EQUAL Decreases; and,
3. Assets - Liabilities = Owner's Equity (The Accounting
Equation).
| Is This Answer Correct ? | 33 Yes | 55 No |
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