what is the three basic rules of accounting?
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Answer / padmanabhan
Three basic rules are
1. Debit the receiver; Credit the Giver.
2. Debit What comes in; Credit what goes out
3. Debit All expenses and losses; Credit all incomes and
gains.
Padhu
| Is This Answer Correct ? | 22 Yes | 0 No |
Answer / madhu poor
Three rule of account.
1) Personal
2) Real
3) Nominal
Three basic rules are
1. Debit the receiver; Credit the Giver.
2. Debit What comes in; Credit what goes out
3. Debit All expenses and losses; Credit all incomes and
gains.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / nagarjuna
it is also called "golden rules of accounting". there are 3
rules.
1.PERSONAL ACCOUNT:-
DEBIT :who is benefits get from company. (receiver)
CREDIT:who is give benefits to the company (giver)
2. REAL ACCOUNT:-
DEBIT : What comes in
CREDIT: What goes out
3.NOMINAL ACCOUNT
DEBIT : All expenses and losses
CREDIT: All incomes and profits
| Is This Answer Correct ? | 6 Yes | 0 No |
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