what is the princple of debit & credit?
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Answer / meelap
GOLDEN PRINCIPLE OF ACCOUNTS
1ST PRINCIPLE OF PERSONNEL A/C.
DEBIT THE RECEIVER AND CREDIT THE GIVER
2ND PRINCIPLE OF REAL A/C.
DEBIT WHAT COMES IN AND CREDIT WHAT GOES OUT
3RD PRINCIPLE OF NOMINAL A/C.
DEBIT ALL EXPENSES AND CREDIT ALL INCOMES
by Meelap Joshi - meelaap@yahoo.com
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Answer / bhaskar
What we receive is debit.
What we give is Credit
| Is This Answer Correct ? | 10 Yes | 4 No |
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