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Golden rules of accounting
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Answer Posted / ramkumar
Personnel account ioncludes all ledger accounts of
individuals HUF company firm etc... E.g Ram's a/c sham and
co ABC comp-any limited etc....
Real A/c includes all assets and liabilities a/c.. Eg cash
a/c bank a/c fixed assets current liabilities....
Nominal A/c includes all direct and indirect incomes and
expenses a/c e.g salary a/c commission a/c rent a/c etc...
Debit all expenses and losses
credit all incomes and gains
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