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Answer Posted / shivanand belavatagi
There are three rules in accounting
1) PERSONAL ACCOUNT- DEBIT THE RECEVER AND
CREDIT THE GIVER
2) REAL ACCOUNT- DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
3)NOMINAL ACCOUNT- DEBIT ALL EXPENSES & LOSSES
CREDIT ALL GAINS & INCOMES.
| Is This Answer Correct ? | 29 Yes | 1 No |
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