what is golden rules of accounts

Answer Posted / rajesh

The golden rules of accounts are:
1. Personal Account:
Debit the reciever
credit thegiver.
2. Real Account:
Debit what comes in
credit what goes out.
3. Nominal Account:
Debit all expenses and losses
credit all profit ang gains.

Is This Answer Correct ?    16 Yes 4 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what is crisil?what is the advantage of crisil rating?

3380


HOW I CAN PREPARE A BALANCE SHEET OF A COMPANY ?

1656


The cost equation y= $0 + $1.60x represents which type of cost? Variable, Fixed, or Mixed

1894


Expand----------CMST

1843


Is it correct to covered fesibility report expenses and survey expenses in pre-operative exepenses ?

1798






What is the quality of the accountant & rights ? hansika.kk@gmail.com

2785


Received credit note for Rs 3500 towards transport charges on the goods supplied from Vinod traders. The transport charges were already paid at the time of delivery. Pass entries at the time of payment of transport and for credit note

1852


Hi all i did my M.B.A financ enw iam doing a job as a finance executive but i feel it is not good 4 me can any 1 plz guide me 4 the better career my job profile is (INVOICING)hw it is help me out 4 the better career shell i continu ein the same 1 by learning sap or oracle or shall i shift to any other if any other which job is suites to me plz suggest me

1907


What is Accounting on Computers

1729


what are the content of purchase order?

1817


how to do the recurring entries or steps to follow that

1662


1.how can carry forward the balance of ledgers to the next financial year in tally erp 9

1599


helo sir, i want to know the writen exam pattern for finance and accounts ang general apptitude test of ongc.

1851


What is ABC Analysis in industrial function. hw can it s maintain ?

1972


While selling fertilisers can we charge VAT on excise duty.

1733