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What are the 3 Basic Rules in Accounting.
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Answer Posted / christopher
Personal account - Deals with the live persons eg.,Ram,Chris etc
Debit the Receiver
Credit the giver
Real Account - Deals with the cash
Dedit what comes in
Credit what goes out
Nominal Account - Deals with the Expenses & Incomes
Debit all the Expenses & Losses
Credit all the Incomes & Gains.
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