what are golden rules of accounting.......?
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Answer / m.shailaja
They are 3 golden rules of accounting
1.Personel Account
Rule: Debit the receiver
Credit the giver
2.Real Account
Rule: Debit what comes in
credit what goes out
3.Norminal Account
Rule: Debit all expenditure and Loss
Credit all Incomes and gains
| Is This Answer Correct ? | 33 Yes | 1 No |
Answer / m.shailaja
They are 3 golden rules of accounting
1.Norminal Account
Rule: Debit what comes in
credit what goes out
2.Real Account
Rule: Debit all expenditure and Loss
Credit all Incomes and gains
3.Personel Account
Rule: Debit the receiver
Credit the giver
| Is This Answer Correct ? | 20 Yes | 16 No |
Answer / shashank mangal
Increase in an asset is debited and decrease in the same
credited.
Increase in a liability is credited and decrease in the
same is debited.
Increse in expenses/losses etc. is debited and decrease in
the same credited.
Increase in a revenue/income/profit etc. is credited and
decrease in the same is debited.
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / soumitra paul
Real Account:
What comes is debilt, what goes out credit
Personal Account:
Debit is the receiver, credit the giver
Nominal Account:
Debit is losses and expenses, Credit is income gains and
profit
| Is This Answer Correct ? | 3 Yes | 5 No |
Answer / guest
there are three basic rules for accouting that are the main
formulation for accouiting:
1. everything for the receiver should be debit
2. Inome shoule be credit.
3. Expences should br debit.
| Is This Answer Correct ? | 6 Yes | 9 No |
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