Interested to Buy Any Domain ? << Click Here >> for more details...
What are the 3 Basic Rules in Accounting.
- 167 Answers
- 597516 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 / neeraj garg
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 ? | 5144 Yes | 255 No |
Answer / aravind
1.personal account
debit the receiver
credit the giver
2.nominal account
all expence and loses debit
all incomes and gains credit
3.real account
what comes in debit
what goes out credit
| Is This Answer Correct ? | 3273 Yes | 251 No |
Answer / bhavya
There 3 basic rules in Accounting
1.Real Account
what comes in Dr
what goes out Cr
2.Personal Account
The Reciver Dr
Giver Cr
3.Nominal Account
All Expenses Dr
All incomes Cr
| Is This Answer Correct ? | 2069 Yes | 186 No |
Answer / blueskywheel
Rule 1: Total asset= Total liab + owner's Equity
Rule 2: Debit: all exp & loss
Credit: all income & gain
Rule 3: Total of debit side = Total of credit side
| Is This Answer Correct ? | 2055 Yes | 977 No |
Answer / vinotha.v
Personal A\C
Receiver a\c Dr
Giver a\c Cr
Nominal A\C
All expenses & loss a\c Dr
All income & gain a\c Cr
Real A|C
What comes in a\c Dr
What goes out a\c Cr
| Is This Answer Correct ? | 1197 Yes | 137 No |
Answer / sonali
Basic rules in Accounting
Personal Account:
Debit Receiver of the benefit
Credit Giver of the benefit
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 ? | 1005 Yes | 122 No |
Answer / sunita
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
| Is This Answer Correct ? | 854 Yes | 83 No |
Answer / pushpendra
for personal account
debit to receiver
credit the giver
for real account
debit what comes in
credit what goes out
for nominal account
debit all exp/losses
credit income/gain
| Is This Answer Correct ? | 743 Yes | 63 No |
Answer / rahul
Personal Accounts :All the personal A/c as ramesh A/c, raj
A/c are included . A person who takes debited and a person
who gives credited
Real Accounts: All the real A/c as fixed assets which is
real in nature are included inwhich whatever comes in
debited and watever goes out credited
Nominal A/c : In the nominal A/c all the Expenses & loss IS
debited and all the incomes and gains is credited
| Is This Answer Correct ? | 711 Yes | 104 No |
Answer / md. rasheed
1)Capital=Assets-liabilities
2)Debit side should be equal to credit side
Debit all exp&loss and credit all incomes and gains
3)Increase in debit should not be equal to credit
| Is This Answer Correct ? | 529 Yes | 174 No |
WHAT IS INDIREDT EXPENSES
Over-hauling expenses of a secon hand machinery should be debited to ---------
What is the procedure to take loan
classify the following into real, nominal, personal account 1. Discount account 2. interest on debenture 3. Land account 4. salary account 5. carriage account 6. printing & stationary account 7. stock account
WHAT ARE EQUITY SECURITIES?
Paid office electricity charges Rs 15000/- and Ram partners residence electricity charges 1250 thr andhra bank cheque
EXPAND___________NHAI
How can I explain p2p process in SAP?
Short Answer on ___________Fixed capital
What is the mening of uidnvhe.?
Huge advertising expenses on the introduction of a new product in the market. The expenditure is called ---------
In case of new admission of partner what will be the adjustment for the sharing ratios
Audit 
