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What are the 3 Basic Rules in Accounting.
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Answer Posted / pramod adhikary
There are two kinds of accounts: 1. Personal Account, and
2. Impersonal Account
1. Personal A/C Dr. the Receiver, Cr. the giver
2. Impersonal account can be devided in to two groups: 1.
Nominal A/C, 2. Real A/C
2.1. Nominal A/C : All expenses and losses Dr., and all
income and gains Cr.
2.2. Real A/C: Dr. what goes out, Cr. what comes in
| Is This Answer Correct ? | 106 Yes | 29 No |
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