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What are the 3 Basic Rules in Accounting.

Answer Posted / mr. nikhilkumar bagla

1. Personal Account:

Debit the receiver.
Credit the giver.

2. Real Account:

Debit:- what come in.
Credit:- what goes out.

3. Nominal Account:

Debit: all Expenditure and losses.
Credit: all gains and income.

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