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Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
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 Accounting General interview questions  Accounting General Interview Questions (2826)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4368)
Question
Examples each for golden rules of accounting
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
PERSONAL ACCOUNT
DEBIT : THE RECEVIER
CEDIT : THE GIVER

REAL ACCOUNT

DEBIT : WHAT COMES IN
CREDIT : WHAT GOES OUT

NOMINAL ACCOUNT

DEBIT : EXPENES OR LOSS
CREDIT : INCOME OR GAINS
 
Is This Answer Correct ?    841 Yes 37 No
Venodyadav
 
Answer
# 2
1. Personal Account

Sundry Creditors A/c Dr.
To Cash/Bank A/c
( Payment for Purchase of Goods )

2. Real Account

Cash A/c Dr
To Bank A/c
( Cash Withdrawn from Bank )

3. Nominal Account
Printing & Stationery A/c Dr.
To Cash/ Bank A/c
( Purchase of Stationery Items )
 
Is This Answer Correct ?    467 Yes 48 No
Sridhar K
 
 
 
Answer
# 3
Salary of the employeeis not real a/c nor personal a/c it
is nominal a/c.
 
Is This Answer Correct ?    427 Yes 35 No
Sunil Jadhav
 
Answer
# 4
Personal Account:- It is individual account
Real Account:- It is business using for asset purchase
Nominal Account: It is Rent, salary paid of exp. and
advance received
 
Is This Answer Correct ?    324 Yes 20 No
Venkatesan
 
Answer
# 5
1) PERSONAL ACCOUNT
DEBIT THE RECEIVER (S.Creditor, Party)
CREDIT THE GIVER (Cash or Bank)

2) REAL ACCOUNT
DEBIT WHAT COMES IN - (Cash/Cheque, Purchases, Receipts)
CREDIT WHAT GOES OUT - (Payments, Cash/Cheque, Sales)

3) NOMINAL ACCOUNT
DEBIT ALL EXPENSE AND LOSS -(Salary,commission,rent,etc)
CREDIT ALL INCOME AND GAINS - (Interest recieved,
commission received, royalty received, etc)
 
Is This Answer Correct ?    260 Yes 18 No
Megharaaj
 
Answer
# 6
1) PERSONAL ACCOUNT
DEBIT THE RECEIVER (S.Creditor, Party)
CREDIT THE GIVER (Cash or Bank)

2) REAL ACCOUNT
DEBIT WHAT COMES IN - (Cash/Cheque, Purchases, Receipts)
CREDIT WHAT GOES OUT - (Payments, Cash/Cheque, Sales)

3) NOMINAL ACCOUNT
DEBIT ALL EXPENSE AND LOSS -(Salary,commission,rent,etc)
CREDIT ALL INCOME AND GAINS - (Interest recieved,
commission received, royalty received, etc)
 
Is This Answer Correct ?    190 Yes 18 No
Peyus
 
Answer
# 7
PERSONAL ACCOUNT:

Debit the recevier
Credit the giver.

EXAMPLE:

Sundry Creditors A/C DR
To Cash/Bank A/C

REAL ACCOUNT:

Debit what comes in
Credit what goes out

EXAMPLE:
Cash A/C DR
To Bank A/C

NOMINAL ACCOUNT:

Debit all expenses or losses
Credit all incomes or gains

EXAMPLE:

printing & Stationery A/C DR
To Cash / Bank A/C
 
Is This Answer Correct ?    133 Yes 13 No
Jayashree Durga Prasad
 
Answer
# 8
all my answer is right 
Is This Answer Correct ?    132 Yes 25 No
Hitesh
 
Answer
# 9
yes 
Is This Answer Correct ?    91 Yes 17 No
Ravi Ranjan Vishwakarma
 
Answer
# 10
Dear All,
Anyone can tell Salary what type of account? Real or
Personal a/c?
 
Is This Answer Correct ?    255 Yes 187 No
Sangeetha G
 

 
 
 
Other Accounting General Interview Questions
 
  Question Asked @ Answers
 
A persons salary 1 lac per month .How i can save the tax to company & persong giving by breaking of salary during year 2008-09 when FBt is applicable ?   1
we given tour advance to party how to treat entry and which head have to given expenditure   4
If i paid cash to my merchandiser(employee) in his imprest account.& if he is not able to arrange the purchase bill than how will be his account settled or what will be the entires for this process.   1
if u sale an asset for Rs.1000, which shows the book value of 8600. what will be the journal entry??? ACS 2
Difference between outstanding income and accrued income?   6
what wll i do to remove my fairs facing for interviewee?   1
How can pass the entry stock goods loss by fire or theft Accenture 2
What is the BPO/KPO/ITES Organisations? Banking 1
what is the difference between derivatives and swaps Capital-IQ 7
Sir, Please tell me what diesel is direct/indirect exp.   4
What is GR form why we use it and what is the step of GR FORM by various department as some little knoledge of me it is used by custom for wher the FERA is applicate. But I dont now where FERA is applicatble thanks   4
what is market capitalisation and tell me the formula for that ????? Capital-IQ 4
 
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