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golden rules of accounting
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Answer / dharani
There are three types of accounts. Personal, Real, and
Nominal. For recording transactions and to categorise
whether it is debit or credit, golden rule is important.
Personal - Debit the Receiver & credit the giver.
Real - Debit what comes in & credit what goes out.
Nominal - debit all expenses and losses/credit all incomes
and gains.
| Is This Answer Correct ? | 14 Yes | 0 No |
Answer / adish jain
personal accounts ( dr. the receiver and cr the giver)
real a/cs ( dr. whats comes in and cr what goes out)
nominal a/cs (dr all expenses and cr all incomes
| Is This Answer Correct ? | 5 Yes | 0 No |
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