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Golden rules of accounting

Answer Posted / jayashree satish poojary

GOLDN RULES OF ACCOUNTING:

1. REAL A/C-DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT

2. NOMINAL A/C-DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND GAINS

3. PERSONAL A/C-DEDIT THE RECEIVER
CREDIT THE GIVER

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