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What are the 3 Basic Rules in Accounting.
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Answer / shashikala jm
Personal a/c
Debit the receiver of benefit
Credit the giver of benefit
Real or property a/c
Debit what comes in
Credit what goes out
Nominal or Fictitious a/c
Debit all expenses & losses
Credit all incomes & gains
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / dinesh
Real Accounts
Dr.What comes in
Cr. what goes out
Personal Accounts
Dr.the receiver
Cr.the giver
Nominal Accounts
Dr.loss and Expenses
Cr.Incomes and Gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mohammed abdul aleem
total ASSETS - LIABILITIES = CAPITAL
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mukesh verma
debit- the receiver
credit- the giver
losses and expense=debit
profit and income=credit
inward thing=debit
outward thing=credit
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ramesh
personal a/c :-
receive the debit----dr /1000
giver the credit---cr /1000
real a/c:-
what comes in debit----dr /2000
what goes out credit---cr /2000
nominal a/c:-
all loss and expense debit--dr/3000
all income and gain credit--cr/3000
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / kishanlal mayaram kori
In case of Personal Account
like Vijay's, Kishan's
bank accounts etc.
1. Debit to receiver
Credit to giver
In case of Real account
like Machinery, Goodwill,
etc accounts
2. Debit what comes in
Credit what goes out
In case of Nominal account
like Profit or loss,
Expenses or gain..
3. Debit All Exp /Loss
Credit Income/Gain
Note : Above three are the
basic rules of Accounting.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mohamed husaine
There are Three Basic Rules In Accounting
PERSONAL ACCOUNT:-
Debit The Receiver
Credit The Giver
NOMINAL ACCOUNT:-
Debit All Expenses And Loses
Credit All Incomes and Gains
REAL ACCOUNT:-
Debit What Comes In
Credit What Goes Out
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / kesavarao.k
1. Debit to receiver
Credit to giver
2. Debit what comes in
Credit what goes out
3. Debit All Exp /Loss
Credit Income/Gain
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sharankumar
Real A/c : 1) Debit what comes in 2)Credit what goes out
Personal A/c: 1) Debit the receiver 2) Credit the giver
Nominal A/c: 1) Debit all expenses/loss 2) Credit all
income/gain
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / rathan(chennai)
Debit what comes in
Credit what goes out
Debit the Receiver
Credit the giver
Debit all Expenses and Gain
Credit all Incomes and loses
| Is This Answer Correct ? | 0 Yes | 0 No |
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