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What are the 3 Basic Rules in Accounting.
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Answer / devraj
Personal A/c
Debit;Receiver of the benefit,
Credit;Giver of the benefit,
Real A/c
Debit;All asset comes in,
Credit;All asset goes out,
Nominal A/c
Debit;All expenses & Loses
Credit;All profit & gains
| Is This Answer Correct ? | 22 Yes | 2 No |
Answer / priya
threebasic rules are also known as golden rules of
accounting . we have three types of accounts ie
Personal accounts(natural, artificial,representative)
Rule
Debit the receiver
Credit the giver
Real account(tangible,intangible)
Rule
Debit what comes in
Credit what goes out
Nomial account(which is not included in above a/c)
Rule
Debit all expenses and losses
Credit all incomes and gains
| Is This Answer Correct ? | 21 Yes | 2 No |
Answer / prakash
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 ? | 21 Yes | 2 No |
Answer / sukhbir
1 debit the reciver
credit the giver
2 debit what comes in
credit what gose out
3 debit all the expenses and losses
credit all the income and gains
| Is This Answer Correct ? | 20 Yes | 2 No |
Answer / shekar
Nomial accounted :
Debit : All expenses& lossss
credit : All Incomes & gain
Real accounted:-
Debit : What comes in
Credit : What goes out
Personal accounted :-
Debit the receiver
Credit the giver
| Is This Answer Correct ? | 19 Yes | 1 No |
Answer / sajid farooqi
1. debit the receiver and credit the giver
2. debit whats comes in credit whats goes out
3. debit all lossed and expenses credit all gains and
incomes.
| Is This Answer Correct ? | 18 Yes | 0 No |
Answer / dilip surana
The Answer is Rule 1:Real A/c {asset}
when one asset comes in it should debited
when one asset goes out it should credited
Rule 2:personal a/c i.e (individual a/c)
when one person or co.receives benefit it should debited
when one person or co.gives benefit it should be credited
3.nominal a/c
all the expenses&losses should be debited
all the incomes&gains should be credited
| Is This Answer Correct ? | 17 Yes | 0 No |
Answer / md.humayun kabir
Real Account:
Debit what comes in
Credit what goes out
Personal Account:
Debit the reciever
Credit the giver
Nominal Account:
Debit all expenses and losses
Credit all incomes and gains
| Is This Answer Correct ? | 16 Yes | 0 No |
Answer / vemula sai kiran
This is universal question of accontancy to be known by
every accountant.
PERSONAL ACCOUNT:IT DEAL WITH PERSON AND ANY THING.(TRADING A/C)
DEBIT THE RECEIVER,..
CREDIT THE GIVER.
REAL ACCOUNT:IT DEALS WITH CASH,BANK,THINGS..etc(PROFIT AND
LOSS A/C)
DEBIT WHAT COMES IN,..
CREDIT WHAT GOES OUT
NOMINAL ACCOUNT:IT DEALS WITH EXPENSES, INCOME AND GAINS
FROM BUSSINESS.
DEBIT ALL EXPENSEN AND LOSSES,..
CREDIT ALL INCOMES AND GAINS.
| Is This Answer Correct ? | 13 Yes | 0 No |
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