What are accounting Principles?
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Answer Posted / padmawathi
THERE ARE THREE
1) .PERSONAL a/C :- DEBIT THE RECEIVER.
CREDIT THE GIVER.
2).REAL a/c :- DEBIT WHAT COMES IN.
CREDIT WHAT GOES OUT.
3).NOMINAL a/c :- DEBIT ALL LOSSES AND EXPENCES.
CREDIT ALL GAINES AND INCOMES.
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