Answer / santosh

Accountancy refers to a system of recording day to day
transaction in the books of Accountacy.Every book has
certain rules and regulations to be followed...
A) Personal Account:- Deals with persons,Institutions.
Debit :- The receiver.
Credit:- The Giver.

B) Real Account
Debit :- Debit What comes in.
Credit :- Credit what goes Out.

C) Nominal Account
Debit :- All expenses and Losses.
Credit:- All Incomes and Gains.

All the rules mentioned above are universally accepted

Answer / salam

1ST Don`t count the chickens if the eggs are`nt yet hatched.
2nd If you woke up with a 1 million beside you, sleep again
to make it 2 million. 3rd Im a philosopher not an accountant.

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