Answer Posted / hussain
1. Real Accounts : Debit what comes in
Credit what goes out
2. Nominal Accounts : Debit All Expenses And Losses
Credit All Income And Gains
3. Personal Accounts : Debit the Reciver
Credit the Giver
Is This Answer Correct ? | 7 Yes | 0 No |
Post New Answer View All Answers
Why companies are issuing their shares at premium and discount? What benefits the companies and the investors can get in both the cases?
why assets are shown at their historical cost price but not at their current price bcoz we are following historical cost concept. but this will not reveal correct financial position of the business.give reason
Explain some of the accrued expenses and the accounts in which you would record them?
Is it possible to change the accounting period under Indian GAAP from 1/Apr-31March to 1/January-31/December? There is any restriction in doing that, i mean for example for fisal purposes? Thank you all!
hi, this is shanthi kumar(M.Com). i would like to attend interview in genpact company.please send finance interview questions and interview details. thank u very much
OUR COMPANY IS ENGGAGED IN CONSTRUCTION ACTIVITY .WE ARE GOING TO PURCHASE EXACAVATOR MACHINE FROM THE INTERSTATE.WHETHER THE ABOVE PURCHASE COVERED BY ISSUING THE C FORM.
what is turn over? what is vat? what should ido to become a expert in acount? plese ans me
wat is mass allocation and when it is used
What is the difference between a provisions and reserves?
can i material bill book in miro without vat on transport charges ?
all ques. related to accounts?
how sales invoices adjusted against advance received from Debtor?
Who uses accounting?
Mention what are the rules for debit and credit for different accounts to increase the amount in your business accounts?
What is account in accounting?