what is the golden rules of accounting

Answer Posted / sudheer babu

real a/c:- debit what comes in
credit what goes out
personnel:- debit the receiver
credit the giver
nominal a/c:- debit all expenses and losses
credit all incomes and gains

Is This Answer Correct ?    15 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What is mean by working capital?

644


we had company we provide work others they deducted tds how to pass entries in my company please tell me

2783


as muthoot finance is a finance co,so what would be pattern of asking in relation to finance and a/c question?will it be basic or general or it would be market related situation?plz if help me anybody...

1749


Debit Card Come Under Which group in Tally 9?

1472


Is there a difference between accounting for conversion of bonds and accounting for the conversion of preferred stock?

565






can any one send me tally professional version link

1177


Explain me the difference between accounting and auditing?

648


how to solve cashbook question

2874


in insolvency we have to prepare deficiency account but why we do not prepare this account as per general principle i.e Dr Cr To By etc , and deficiency account is which account?

4618


What is the equation for acid-test ratio in accounting?

648


What is ppe in accounting?

627


what is addition of Opening Balance and net profit transfered from profit and loss account called

1528


what is t code of all expences general legder?

1599


Tell me about a situation where you showed determination?

596


what is differnce between balance sheet of a bank & a company

1619