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wat is the golden rule of accounting
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Answer Posted / v sakkthivel
Personal A/c- (Name of person and company)
Debit the receiver and credit the givert
Real/property account: assets and property account
Debit what comes in and credit what goes out
Nominal account: any type of income and gain(either
intrest, discount received from any sources)
Any type of expenses either may be intrest or discount
allowed like wise)
Debit all expenses and losses
credit all income and gain
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