Answer / abbas.h.musani

three types of account
personal A/C:Debit the receiver
Credit the giver
Real A/C : Debit what comes in
Credit what goes out
Nominal A/C :Debit expenses and losess
Credit incomes and gains

Answer / uma

Following are the accounting principles

1. personnel account:- debit the receiver and credit the
giver,
2. real account:- debit what comes in and credit what goes
out.
3. nominal account:- debit all expenses and losses and
credit all gains and incomes

Answer / inderjit dalal

a principle that governs current accounting practice and
that is used as a reference to determine the appropriate
treatment of complex transactions

Answer / ruel l baclaan

aaccounting is an art....of summarizing reporting
interpreting and recording

Answer / lakshmi

1.personal a/c:
Debit is receiver
credit is giver
ex: Rama received 10000
2.real a/c:
debit what comes in
credit what goes out
ex:computer purchased 20000
3.nominal a/c:
debit all expencess and losses
credit all income's and gains
ex:salaries paid,rent received

Answer / minal

Personal Account: Debit the Receiver and
Credit the Giver.

Real Account: Debit what Comes In and
Credit what Goes Out.

Nominal Account: Debit all Expenses and Losses and
Credit all Gains and Incomes

Answer / tajinder

accounting principles define as thoserules of action or
onduct which are adopted by accountanats while recording
accouting transactions. and these principles are classified
into two categories:
1. Accounting conepts
2. Accounting conventions

Answer / muralikrishna

accounting principles are two types
1)personal accounting = Dr the recive, cr the giver
2)impersonal accounting = ther are two types
a)real account=dr what comes in , cr what gose out
b)nominal accounting= dr all exepences/all loses
cr all profits/gains

Answer / vijaymore

Personal Account:Debit the receiver
Credit the giver
(accounts recording transactions with
person)

Real Account : Debit what comes in
Credit what goes out
(It is relating to tangible things like

goods, cash,Buildings,Bills Receivable)
Nominal Account : Debit expenses and losess
Credit incomes and gains
(It is relate to the losses, gains,
expenses and incomes like rent salaries
Bad debts.....)

Answer / sachin

Accounting principals

what is debit & what is credit

and also which are debtors & creditors

but the most important principal is each entry has two effect

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