Interested to Buy Any Domain ? << Click Here >> for more details...
What are the 3 Basic Rules in Accounting.
- 167 Answers
- 592959 Views
- AAA, ABC, Accenture, Amba Research, Birla Sun Life, CTS, CWDF, DELL, Franklin Templeton, iGate, IHP, JPMorgan Chase, Lexi Pens, Mastek, Trinity Technologies, VC Engineering, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / devaraj tc
Personal A/C
Dr is the receiver
Cr is the giver
Real A/c
Dr what comes in
Cr what goes out
Nominal A/c
Dr All expenses & loss
Cr All income & gains
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / yugandhar naidu kalicherla
Three types of rule:
1) Personal Account
"Debit the receiver
Credit the giver"
2) Real Account
"Debit what comes in
Credit what goes out"
3) Nominal Account
"Debit all expenses and losses
Credit all incomes and gains"
I learn this three rule of accounting
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / eknath
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 ? | 7 Yes | 1 No |
Answer / m shajid khan
1. Personal A/C Dr. the Receiver, Cr. the giver
2. Impersonal account can be devided in to two groups: 1.
Nominal A/C, 2. Real A/C
2.1. Nominal A/C : All expenses and losses Dr., and all
income and gains Cr.
2.2. Real A/C: Dr. what goes out, Cr. what comes in
| Is This Answer Correct ? | 7 Yes | 2 No |
Answer / atheeq
Personal account - Deals with the live persons eg.,Ram,Chris etc
Debit the Receiver
Credit the giver
Real Account - Deals with the cash
Dedit what comes in
Credit what goes out
Nominal Account - Deals with the Expenses & Incomes
Debit all the Expenses & Losses
Credit all the Incomes & Gains.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / pallavi borhade
personal a/c - debit the receiver
credit the giver
Real a/c - debit what comes in
Credit what goes out
nominal a/c - Debit all the Expenses & Losses
Credit all the Incomes & Gains.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / saira
1.Personal A/C
. Debit the receiver
Credit the giver
2- Real A/C
. Debit what comes in
Credit what goes out
3- Niminal A/C
. Debit All Exp /Loss
Credit Income/Gain
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / dinesh kumar das
Rule-1
Debit the Receiver
Credit The Giver
Rule 2
what comes In is Debit
What goes out is Credit
Rule 3
All exp. & loss are Debit
All income & gain are credit
These are the basic principle & rule in Accounting
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / kamaljeet singh
please tell me the entry of this exicess
A purchase a TV of Rs 20000 and he paid the Tax @10%
please tell me the entry?
| Is This Answer Correct ? | 5 Yes | 1 No |
what is accounting standard?
Who are Debtors & Creditors?
my company purchase a new Accounting (Tally) pakage how to treeated this pakage my question is it is assest or indirect expences
What is the Journal Entry if "Office Expenses" of Company A is being made by Company B on behalf of Company A?
Expand---------MTRS
What is BRC & FIRC
Expand-------ANTS
what is purchase consideration? How does it come about and how is it treated in the books?
I KNOW THAT INSURANCE CHARGES ON PURCHASE OF VEHILE (LIGHT/HEAVY VEHICLES)HAS BEEN CAPITALISED OR NOT.?
I need the diffnation of Gross profit and Net Profit, kindly brief. Thanking U.
What is Direct Debit
How can retify the errors in the trial balance
Audit 
