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golden rules of accounting?
how bank earn profit?
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Answer Posted / anand
GOLDEN RULES OF ACCOUNTS:-
1. PERSONAL ACCOUNT = RECEIVER .....dr
GIVER .....cr.
2. REAL ACCOUNT = COMES IN ....DR
GOES OUT .....CR
3.NOMINAL ACCOUNT = EXPENSES & LOSSES......DR
INCOMES & GAIN......CR
notes; acording to bank credit means DEPOSITS.
" " debits means WITHDRAW.
BANKS EARN PROFIT THROUGH STOCK MARKETS,USES PUBLIC DEPOSITS
AS SAVING ACCOUNT ,CURRENT ACCOUNT,FIXED DEPOSITS.IT IS
FALLOW THE RULES OF OLD MONEY AND NEW MONEY ROTATED IN MARKETS.
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