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Answer Posted / jai
personal : debit the receiver
credit the giver
for eg: dis accounts comes under the name of persons like
ramu a/c and the company like LIC insurance pvt.ltd, etc
real : debit wat comes in
credit wat goes out
for eg: dis accounts comes under 2 heads. one s tangible and
other one s intangible like building, machinery , land,
plant etc.
nominal : debit all expenses and losses
credit all incomes and gains
for eg: dis account s cannot touch like the salary,
electricity, etc.
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