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what are golden rules of accounting.......?

Answer Posted / 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.

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