Interested to Buy Any Domain ? << Click Here >> for more details...
What are the golden principles of accounting? Give an
example for each.
- 3 Answers
- 14598 Views
- I also Faced
- E-Mail Answers
Answer Posted / jubeda
THERE ARE THREE GOLDEN PRINCIPLES OF ACCOUNTING
PERSONAL A/C - DEBIT THE RECEIVER
CREDIT THE GIVER
EG: NAME OF A COMPANY/FIRM/PERSON/ETC.
REAL A/C - DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
EG: EXPENSES/ASSETS/CASH/ETC.
NOMINAL A/C - DEBIT ALL EXPENSES/LOSSES
CREDIT ALL INCOMES/GAINS
EG: EXPENSES/INCOMES/INTEREST/COMMISSION/SALARY/ETC.
| Is This Answer Correct ? | 36 Yes | 1 No |
Post New Answer View All Answers
Tell us what do you believe should be an important quality of an account executive?
What is the entry for provision?
What is mis report , how to prepare mis report for general ledger?
Accounting for vc money in financials
Explain what does financial statement of the company includes?
Do you have any professional experience in this field?
What is compound journal entry?
what are the items falling under the category of reserves and surplus? whether bills of exchange is a reserves and surplus item 2.whther errors of omission will affect the trial balance
what is difference among credit, loan, advance
what are the disadvantages of back-flush accounting?
Tell me what is working capital?
how will decide that vender payment is ok without reco
Mention your extra-curricular interests. Which do you actively pursue? How do you see these developing in the future?
What are mis reports and do you prepare it?
Explain different branches of accounting?
