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What are accounting Principles?
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Answer Posted / aman
there are three types of accounting principles available:-
1.Personnel Account:- Deals with person individual often
company extra.
* Debit the receiver
* Credit the giver
2.Real Account:- Real accounts are those which are tangeble
in nature an which the business owns.
* Debit what comes in
* Credit what goes out
3.Nomial Account:- These are accounts other than personel
and real includes expences, losses, incomes and gains.
* Debit all expences and losses
* Credit all incomes and gains
| Is This Answer Correct ? | 250 Yes | 87 No |
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