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Golden rules of accounting
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Answer Posted / raju malode
PERSONAL ACCOUNT : Debit the receiver
Credit the giver
(Its is related to peson, firm etc....................)
REAL ACCOUNT : Debit what comes in
Credit what goes out
(Its related to goods, cash etc.......................)
NOMINAL ACCOUNT : Debit all expenses and losses
Credit all incomes and gains
(Its related to incomes and expenditure (both Direct &
Indirect))
| Is This Answer Correct ? | 394 Yes | 53 No |
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