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What are the 3 Basic Rules in Accounting.
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Answer Posted / grace
There are three basic rules in Accounting. Namely
1.Personal Account :
Debit the receiver
Credit the giver.
2. Real Account :
Debit what comes in
Credit what goes out
3. Nominal Account :
Debit all Expenses & Losses
Credit all Incomes & gains
| Is This Answer Correct ? | 2 Yes | 1 No |
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