What is the three rules of Account & what is debit and
credit

Answer Posted / chandu

debit means what comes in because debit means what comes in
credit means what goes out because credit means what goes
out

Is This Answer Correct ?    0 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what is Derivative Documentation,Derivative Settlements,Derivative confirmation?

1785


What do you mean by Adjustment

1455


Tell me the steps for Import and Export Thanks

1486


What is the process of VAT & CST Registration?

2013


while doing work in dolphin software when credit note is given by supplier to purchaser then purchaser is debited supplier account so on credit side which account is coming which account should be credited

1644






what happens to each of the three primary financial statements when gross margin decreases?

1576


what is the difference between planned and non planned budgt

1563


Hi, I would like to check if my understanding is correct I have a negative amount for provision of income tax in my balance sheet from my previous financial year.What are the accounting treatments for income tax paid and then refunded to you for the current year? Is this correct? For payment Dr provision of income tax cr bank For tax refund Cr provision of income tax Dr bank Do I need to input anything in income tax expense acct?

1269


Harpithas due Rs 55000 was settled infull by taking Haris due Rs 12500 in adjustment Pass necessary entry

1634


hi guys, pls refer me how to preppare for Indian Bank exams.

1967


why funds management doc is generated during migo and miro

1071


What is Accommodation Bill

1887


What will be the consequences if the partnership is not registered

1496


what do you mean by accounting?Explain the various concepts of accounting and the need for having accounting standards?

1689


The cost equation y= $0 + $1.60x represents which type of cost? Variable, Fixed, or Mixed

1746