What are the 3 Basic Rules in Accounting.

Answer Posted / m shajid khan

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 ?    7 Yes 2 No



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