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What are accounting Principles?
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Answer Posted / m.veeranjaneyulu
Accounting Principles:
Personal Account: Debit the receiver
Credit the giver
(This account treted as only persons)
Real Accounts: Debit what comes in
Credit what goes out
(This account treated as only assets)
Nominal Accounts:All expences & losses are debit
All incomes & gains are credit
| Is This Answer Correct ? | 3 Yes | 1 No |
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