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What are accounting Principles?

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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