golden ruls of accounting
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Answer / v.k.tanseer shadab
The term golden rules reffers to the three basic principle
is to be followed in double entry system of book keeping.
based on the a/c, normally a/c may be classified into two
types. viz.personal & Impersonal
In Personal - all Natural & Artificial person a/c is
considered.
where as in Im personal - Real & Nominal in taken in
consideration
Rule 1.for Pesonal A/c is Debit= The Receiver of Benefit
Credit= The Giver of Benefit
Rule 2.for Real A/c is Debit= What comes in
Credit= What goes out
Rule 3.for Nominal A/c is Debit= All Expenses and Losess
Credit= All Incomes and Gains
| Is This Answer Correct ? | 19 Yes | 1 No |
Answer / ajit kumar
personal accounts
dr. recever's account
cr. giver's account
real account
dr. what come in (things)
cr. what goes out(things)
real account
dr. all expenses in compamy
cr. all encomes in company
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / pooja
Real Account-dr what comes in
cr what goes out
Personal Account-dr the reciver
cr the giver
Nominal Account -dr the gains and expenses
cr the income and loses
| Is This Answer Correct ? | 4 Yes | 14 No |
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