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What are the 3 Basic Rules in Accounting.
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Answer Posted / arumugam.m
Basic 3 Accounting Rules:
1. PERSONAL ACCOUNT
Debit the receiver(Dr)
Credit the giver(Cr)
2. REAL ACCOUNT
What comes in debit(Dr)
What goes out credit(Cr)
3. NOMINAL ACCOUNT
All expenses and loses debit(Dr)
All incomes and gains credit(Cr)
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