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when is real ,nominal, & personal a/c's used
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Real Acoount:
Debit :What comes in
Credit:What goes out
Nominal Account:
Debit:All expenses and losses
Credit:All incomes and gains
Personal Account:
Debit: The receiver
Credit:The giver
These are the rules of real,nominal and the personal
accounts these accounts are used according to the situation
occured in the particular organisation,company or a firm.
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