What are the 3 Basic Rules in Accounting.
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 capital market?
How is the price of a particular product fixed. What are the considerations taken for that?
explain purchase cycle?
Received from Krishna Murthy Rs 26500/- in full settlement of due Rs 30000/-. Pass entry
WHAT IS THE LIMIT OF CC A/C
sir, can u pls tel me about second round interview in state bank of india
1 Answers State Bank Of India SBI,
Why closing stock wont appear in the Trial Balance?
WATS THE GENERAL ENTRY FOR OUT STANDING SALARIES,AT PRESENT FINANCIAL PERIOD & AT THE TIME OF PAYING THE CASH
Any one give some questions and answers . B.R.S, and tally9.0
What is the closing entry for outstanding amount?
if a manufacturing coampany is using tools for manufacure of machine , it would be called as direct expenses or factory overheads.
What is meant by consignment