What are the golder rules of Accounts ?

Answer Posted / thulasiram gummalla

R1 Personal : Debit the receiver, and credit the giver.
R2 Real : Debit what comes in, and credit what goes out.
R3 Nominal : Debit all expenses, and losses and
credit all incomes, and gains.

Is This Answer Correct ?    0 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

a) What are the Golden Rules of Accounting? What are the 14 Principles of Accounting

1660


how to download online - old ECR CHALLANS

4417


In case of new admission of partner what will be the adjustment for the sharing ratios

1613


What is inter-corporate deposits? and where it is shown in balance sheet?

3263


what is difference between account and accounting

1309






tell me about a time you had to deal with a conflict between a licensed and unlicensed personnel and how handled the situation?

4298


Why closing stock appears both in trading and Balance sheet? Why does it doesnot appear in trail balance.

1861


What is meant by Revenue Loss

1620


what is forecast

1117


bill to addres? ship to addres? rimit to address?

4556


who introduces the single entry format?

1561


What is share,Bond, sharecapital, Budgeting, BRS, CA, CL, WC, WACC, Depreciation, types of Depreciation, B/S, CF items and some transactions and Preference Share capital, Equity Share Capital , Debenture and practicle Questions to solve and tell there itself whether the co's good for investing etc..like opinion for problems to find out how good one is with basics.

1704


tell me about roll model as father

1723


types of inventory

1772


Who will be called as consignee

1624