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Golden rules of accounting
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Answer Posted / milind sawant
there are 4 Golden Rules of accounting
1 personel * debit the receiver
* credit the giver
2 real * debit what comes in
* credit what goes out
3 nominal * debit all expences and losses ex discount
recieved,commission received
* credit all incomes and gains ex salary,
rent,advertisment,
4 personel representive a/c
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