What are accounting Principles?
- 152 Answers
- 298383 Views
- Accounting, Banking, Eskom, EXL, Finance, Fluor Daniel, Genpact, HSBC, IBM, Infosys, JPMorgan Chase, State Bank Of India SBI, Syntel, Vibha Seeds, Wipro, Wrox, I also Faced
- E-Mail Answers
Answer Posted / anubhav
Accounting Principles are:
Personal Account: Debit the Receiver and
Credit the Giver.
eg. Bank a/c, Capital a/c, Outstanding Expenses/ Incomes.
Property /Real Account: Debit what Comes In and
Credit what Goes Out.
eg. Purchase a/c, B/R a/c, Patent a/c, Cash a/c.
Nominal Account: Debit all Expenses and Losses and
Credit all Gains and Incomes
eg. Salary a/c,Stationery a/c,Depreciation a/c,Interest a/c.
| Is This Answer Correct ? | 0 Yes | 1 No |
Post New Answer View All Answers
What are BASEL III Norms?
What Is The Single Supervisory Mechanism?
Tell something about RBI and its functioning in brief?
What services are provided by 'virtual banking'?
What is usance promissory note?
I am using log-returns in a study, and I use CAPM to predict the expected return. When calculating the expected return from CAPM, how do I approach with log-numbers? Do I use log-numbers for interest rate, market return and beta, or only the first two?
Which newspaper do you read? Why?
Brand has become an important aspect of Business. What are the advantages of building a Brand and what steps are available under IPR to protect its ownership?
Do you know what LAF is?
what are the approaches to current account convertibilitry
What are the skills required to be a bill collector?
What do you know about Bank assurance?
What is composite cost of capital? Explain the process to compute it?
what are the two pre-defined ledger available in Tally ERP 9?
What is secularism?
