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What is the rule of accounting

Answer Posted / satish ghatage d

Rule of Accounting or Golden rules of accounting both are same
Golden rules of accounting are as follows:


1. Personal Accounts: Debit the receiver Credit the giver.
2. Real Accounts: Debit what comes in Credit what goes out.
3. Nominal Accounts: Debit all expenses and losses Credit all Incomes and gains.

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