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Answer Posted / ashid puzhakkal
I already given the correct formulaes. The answer given by
alok chandra ray is not related to formulaes. Definitely,
ur answer relates to rules of accounts, based on
traditional approach or British approach. According to
British approach, there are 3 types of accounts, namely,
personal, real and nominal. According to American approach,
there are 5 categories of accounts, namely, assets,
liabilities, capital, revenue and expenses.
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Can you explain about the distinction of Book-Keeping and Accounting
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