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What are accounting Principles?
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Answer Posted / pallavi arun jadhav.
There are three types of accounting principles which are as
follows :-
1) PERSONAL ACCOUNTS
Debit the receiver,
Credit the giver.
2) REAL ACCOUNTS
Debit what comes in,
Credit what goes out,
3) NOMINAL ACCOUNTS
Debit all expences and losses,
Credit all income and gains.
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