Golden Rules Accounts (15th nov-2009)
Answers were Sorted based on User's Feedback
Answer / guest
Personal Account: Debit the receiver
Credit the giver
Real Account: Debit what comes in
Credit what goes out
Nominal Account: Debit all losses & expesnses
Credit all incomes & gains
Is This Answer Correct ? | 55 Yes | 2 No |
Answer / madan pal singh
Personal Account: Debit the receiver
Credit the giver
Real Account: Debit what comes in
Credit what goes out
Nominal Account: Debit all losses & expesnses
Credit all incomes & gains
Is This Answer Correct ? | 24 Yes | 2 No |
Answer / shyam singh rana
Personal Account: Debit the receiver
Credit the giver
Real Account: Debit what comes in
Credit what goes out
Nominal Account: Debit all losses & expesnses
Credit all incomes & gains
Is This Answer Correct ? | 7 Yes | 0 No |
Answer / srisailam
Personal A\c Debit the reciever
Credit the Giver
Real A\c What comes Debit in
What goes credit out
Nominal A\c All expenses losses Debit
All incomes and gains credit
Is This Answer Correct ? | 5 Yes | 0 No |
Answer / sanjai t s
Accountancy has only one Golden Rule,,,, As the base of
accountancy stands upon these Golden Rules:::::::::::
Personal A\c : Debit the receiver
Credit the Giver
Real A\c : Debit what comes in
Credit what goes out
Nominal A\c : Debit all expenses & losses
Credit all incomes & gains
Is This Answer Correct ? | 4 Yes | 0 No |
Answer / suresh raichur
In Accounting three golden rules are followed to identify
the business activities:
1. Personal Account
Debit the received
Credit the giver
2. Real Account
Debit what comes in
Credit what goes out
3. Nominal Account
Debit all expenses & losses
Credit all incomes & gains
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / rani
Debit what comes in
Credit what goes out
It's called Golden rules accounts
Is This Answer Correct ? | 0 Yes | 0 No |
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