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Answer Posted / naveengokarapu@gmail.com
Accounts are classified into 3 types:
1.PERSONAL ACCOUNTS DEBIT- THE GIVER
CREDIT THE RECEIVER
2.REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
3.NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES
| Is This Answer Correct ? | 5 Yes | 3 No |
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