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What are the 3 Basic Rules in Accounting.
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Answer Posted / julietmary antony
THREE TYPES OF ACCOUNTS :
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 EXPENSES AND LOSSES
CREDIT ALL INCOME AND GAINS"
(THESE ARE GOLDEN RULES OF ACCOUNTING)
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