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what is accounting rules
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Answer / ayisha
real Nominal & Personal
1.Personal Account:Debit the receiver n credit is the giver.
2.Real Account:Debit what comes in n credit what goes out.
3.Nominal Account:Debit all expenses n losses n credit all incomes n gains.
| Is This Answer Correct ? | 19 Yes | 0 No |
Answer / saumen datta
There are two types of accounts i.e. personal and impersonal accounts. Impersonal accounts is sub-devided by real accounts and nominal accounts.
As per three golden rules :
a) Personal Accounts : Debit the receiver and Credit the giver
b) Real Accounts : Debit what comes in and credit what goes out
d) Nominal Accounts : Debit all the expenses and Credit all the incomes.
| Is This Answer Correct ? | 0 Yes | 1 No |
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