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What are the 3 Basic Rules in Accounting.
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Answer / neeraj dhawan
personal account- debit what comes in
credit what goes out like supplier,customer,service provider.
REAL ACCOUNT -DEBIT THE RECEIVER
CREDIT THE GIVEN LIKE. ASSEST &LIABILITIES
NOMIAL ACCOUNT -DEBIT ALL EXPENCES &LOSSES
CREDIT ALL INCOME&GAIN LIKE, PROFIT &LOSSS
ACCOUNT
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Answer / preeti tyagi
1)Debit what comes in
credit what goes out
2)Debit the receiver
credit the giver
3)Debit all expensess and losses
credit all incomes and gains
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Answer / goutam kumar
1. PERSONAL ACCOUNT
Debit the receiver
Credit the giver
2. REAL ACCOUNT
What comes in debit
What goes out credit
3. NOMINAL ACCOUNT
All expenses and loses debit
All incomes and gains credit
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Answer / a.deepa
real account:what comes in debit and what goes out in credit
nominal account:in debit all expenses&losses and credit all
incomes and gains
personal accounts:debit is the reciver and credit is the giver
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Answer / kimchhorn
#1 is 1
#2 is 3
#3 is 3
#4 is 1
#5 is 3
#6 is 2
#7 is 1
#8 is 2
#9 is 2
#10 is 2
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Answer / jyothi k
personal A/c
Debit the giver
credit the recever
Real A/c
debit what come in
credit what goes out
Nominal A/c
debit all expenses are losses
credit all incomes are gains
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Answer / kislay
There are three basic rules in
accounting
Real Account: what comes in--Dr
what goes out-----Cr
Personal Account:the receiver--
Dr
the giver--------Cr
Nominal Account: All expenses
and losses--Dr
All income and gains-------Cr
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Answer / ashish
PERSONAL ACCOUNT
Receiver to debit
Credit to giver.
REAL ACCOUNT
Ccomplete all real a/c as fixed assets which is a real nature are included debit what comes in and whatever goes credited
NORMAL ACCOUNT
Complete exp. are debit.
& complete income credit
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Answer / ashna
Personal Account. [1]Debit;The Receiver. [2]Credit;The Giver. Real Account. [1]Debit;What Comes In. [2]Credit;What Goes Out. Nominal Account. [1]Debit;All Expenses And Losses.
[2]Credit;ALL Incomes And Gains.
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Answer / poonam
Personal rule.... "debit the receiver, cridit the giver."
real rule... "debit what comes in, credit what goes out."
nominal rule...."debit all the losses and expenses, credit all the income and gains."
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