wat is the golden rule of accounting
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Answer Posted / srikanth
The Accounts are devided in to 3 types. they are Personal
Account, Real Account & Real Account.
According to Generally Accepted Accountig Principles....
Personal Account - debit the Receiver and credit the giver.
Real Account - Debit what comes in, Credit What goes out.
Nominal Account - debit All Expenses and Losses & Credit
all incomes and gains.
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