What are accounting Principles?
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Answer Posted / swapna
There are three types of Accounting principles:
1.Real Account
2.Nominal Account
3.Personal Account
Real Account:Debit what comes in credit what goes out.
Nominal Account:Debit all Expenses and Losses and
Credit all Gains and Incomes
Personal Account:debit the receiver
credit the giver
| Is This Answer Correct ? | 165 Yes | 69 No |
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