WHAT ARE THE PRINCIPALS OF ACCOUNTING

Answer Posted / kumar

1. debit the receiver and credit the giver

2. debit what comes in and credit what goes out

3. debit all losses or expenses and credit all gain or
income

Is This Answer Correct ?    1 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Expand-------BANT

1789


Why we have to present first and second draft(Bill of Exchange) for bank negotiation.Why cant we present only One draft?

3315


we want all sbi previous questions papers in our e.mail krishna2043 on yahoo

1737


Meaning of portfolio management?

1700


can any one send me payables real time scenarious or any projects

1742






A company acquires new taxi fleets on 1April 2006 with intention to provide services during the World Cup period and thereafter dispose the taxis .The World Cup runs for three months to 30 June 2006.The company's year end is 30 June 2006.how do you account for taxis at initial recognition .

1586


EXPAND______________ICC

1839


what are the seven accounting rules

1778


what is meant by transposition error

1671


EXPAND_________SEC

1882


Expand-------CSNA

1662


Expand SOIT

1542


what is pre settlements and post settlements in Derivatives?

1759


Expand CCIT?

2093


EXPAND___________IMF

1831