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In Accounting how many types of formulaes?
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Answer / ashid puzhakkal, m.com.,b.ed.
ASSETS=EQUITIES.
ASSETS=LIABILITIES+CAPITAL
CAPITAL=ASSETS-LIABILITIES
LIABILITIES=ASSETS-CAPITAL
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / ashid puzhakkal
I already given the correct formulaes. The answer given by
alok chandra ray is not related to formulaes. Definitely,
ur answer relates to rules of accounts, based on
traditional approach or British approach. According to
British approach, there are 3 types of accounts, namely,
personal, real and nominal. According to American approach,
there are 5 categories of accounts, namely, assets,
liabilities, capital, revenue and expenses.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / alok chandra ray
Dear friend don't forget the golden formulaes.
dr what coms in,cr what goes out
dr the receiver & cr the giver
dr exps/losses cr incomes & gains
| Is This Answer Correct ? | 5 Yes | 3 No |
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