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What are the 3 Basic Rules in Accounting.
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Answer / md. irshad alam
Personal Account
Debit the receiver and credig the giver.
This rules apply in Personal account. Like- Bank Account,
RAj Account.
etc.
Real Account
Debit what comes in and credit that goes out.
Nominal Account
Debit all expenses and credit all incomes.
example.-rent a/c, staff a/c. petrol a/c, conveyance a/c,
interest a/c, discoount a/c etc.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / prashanthi
3 basic rules in accounting
personal account:persional accounts are accounts of persons
with whom a concern carries on business.
debit is the receiver
credit is the giver
Real accounts:accounts relating to properties or assests of
a trader are known as real accounts
debit what comes in
credit what goes out
nominal accounts:accouts dealing with expenses losses,
gains and incomes are known as nominal accounts
debit all expenses and losses
credit all incomes and gains
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / guru
Real A/c
Debit What comes in
Credit What goes out.
Personal A/c
Debit the Receiver
Credit the Giver.
Nominal a/c
Debit all expences and Losses
Credit all Income and Gains..
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / madhuri kola
Personal Account
Debit the receiver
Credit the giver
Real Account
Debit what comes in
Credit what goes out
Nominal
Debit all expenses/loses
Credit all incomes/gains
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / prakash
There are three rules of accounts
1. real a/c i.e (asset)
when one asset comes in it should be debited
when one asset goes out it should be credited
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 ? | 1 Yes | 0 No |
Answer / anniket bhandakkar
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 ? | 1 Yes | 0 No |
Answer / kailash chander puri
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 ? | 1 Yes | 0 No |
Answer / shilpa m kulkarni
personal account
debit the receiver
credit the giver
Real Account
Debit what comes in
credit what goes out
Nominal Account
Debit all expenses and losses
credit all incomes and gains
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / bhavyashree c
Personal Account
Debit the receiver
Credit the giver
Real Account
Debit wt comes in
Credit what goes out
Nominal Account
Debit all expenses and losses
Credit all gains and incomes
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / avinash
Personal a/c: Debit the reciver
credit the giver
Real A/c : Debit wht coms in
Credit wht gose out
Nominal a/c : Debit all exp.& losses
Credit all Gain & income
| Is This Answer Correct ? | 1 Yes | 0 No |
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