what is the golden rules of accounting?

Answer Posted / naveen kumar ippili

Real Account : Debit what comes in
Credit what goes out

Nominal Account : Debit all expenses and losses
Credit all incomes and gains

Personal Account : Debit the giver
Credit the received

Is This Answer Correct ?    31 Yes 15 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Hi any one send me the configuration steps for make to order and make to stock in sap .send to my mail id c.sujatha2008@gmail.com

1663


Please suggest the manual records needed to be maintained at NGO/CBO to record the transactions of accounts & inventory. Please also mention the need & purpose of each records/books

1839


sir,how to get strong position in finance .how to get good position in company. qulification.Msc,MBA

1701


what is non stock?

2221


How you implemented a chargeback system?

1799






plz send me hsbs finance questions asked in the interview ans appitude also

2111


Why do you want to work for us?

1465


define fixed assets

1447


what do you meant auction? what is F & o segment?

1832


what is the process of excise duty?

2038


sir, i am working recruitment con.pvt ltd inthat one person salary will pay per month Rs.28000/- so i want to enter in our books only one salary payment or basic pay and spl.aa and others like this break up entrys we will pass please suggest

1819


what happens to each of the three primary financial statements when capital expenditures decrease?

1586


Expand CCIT?

2009


what is the scenario of multi-org setup?

1701


How the sub ledgers(AP, AR) integrate with GL liability and receivable

1537