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What are the rules of Account?

Answers were Sorted based on User's Feedback



What are the rules of Account?..

Answer / kailash kamble

1. Real Accounts : Debit what comes in
Credit what goes out

2. Nominal Accounts : Debit All Expenses And Losses
Credit All Income And Revenue

3. Personal Accounts : Debit the Reciver
Credit the Giver

Is This Answer Correct ?    31 Yes 1 No

What are the rules of Account?..

Answer / sarita singh

personal a/c
dr. the ricever cr.the giver

real a/c
dr. what comein cr. what goesout

nominall a/c
dr. all expenses/loss cr. all incom/gain

Is This Answer Correct ?    15 Yes 1 No

What are the rules of Account?..

Answer / mohd.nayeem islaahi

Personal A/c
Debit The receiver credit giver

Real A/c
Debit what comes in credit what goes out

Nominal A/c
Debit all expenses or losses credit All incomes or gains

Is This Answer Correct ?    10 Yes 0 No

What are the rules of Account?..

Answer / hussain

1. Real Accounts : Debit what comes in
Credit what goes out

2. Nominal Accounts : Debit All Expenses And Losses
Credit All Income And Gains

3. Personal Accounts : Debit the Reciver
Credit the Giver

Is This Answer Correct ?    7 Yes 0 No

What are the rules of Account?..

Answer / aashutosh biswas

REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT

NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES

PERSONAL ACCOUNTS DEBIT THE RECEIVER
CREDIT THE GIVER

Is This Answer Correct ?    6 Yes 1 No

What are the rules of Account?..

Answer / swaranjali

Every debit effect should have corresponding credit effect.

Is This Answer Correct ?    0 Yes 0 No

What are the rules of Account?..

Answer / ch.brahmaji

2types of rules of accounting
1) personal accounting
2) impersonal accounting


1) personal accounting in that include of only personal
related to account rules
1 natural person
2 artificial person
3 Representative person rules of using

PERSONAL ACCOUNTS DEBIT THE RECEIVER
CREDIT THE GIVER


impersonal accounting
1 nominal accounting
2 real accounting


NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES

real accounting is assets
in that many types of assets are like fixed assets ,current
assets ,


REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OU

Is This Answer Correct ?    0 Yes 1 No

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