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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (159)
 Taxation interview questions  Taxation Interview Questions (1917)
 Accounting General interview questions  Accounting General Interview Questions (2844)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4376)
Question
GOLDEN RULES OF ACCOUNTING
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT

NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES

PERSONAL ACCOUNTS DEBIT THE RECEIVER
CREDIT THE GIVER
 
Is This Answer Correct ?    6287 Yes 571 No
Sachin
 
Answer
# 2
Personal Account:Debit the receiver
Credit the giver

Real Account : Debit what comes in
Credit what goes out

Nominal Account : Debit all expenses and losses
Credit all incomes and gains
 
Is This Answer Correct ?    3335 Yes 283 No
Swapna
 
 
 
Answer
# 3
REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT

NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES

PERSONAL ACCOUNTS DEBIT THE GIVER
CREDIT THE RECEIVER
 
Is This Answer Correct ?    5665 Yes 2802 No
Vishnu Vardhan
 
Answer
# 4
Accounting is mainly classified under three categories
which are below,

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

Personal Accounting: Debit the Receiver
Credit the Giver

Real Accounting: Debit What comes in
Credit what goes out.
 
Is This Answer Correct ?    1732 Yes 255 No
Santosh
 
Answer
# 5
Personel a/c : Debit the receiver
Credit the giver

Real a/c : What comes in Debit
What goes out Credit

Nominal a/c : Debit all Loss and Expenses
Credit all Incomes and gains.
 
Is This Answer Correct ?    762 Yes 167 No
Nageswara Rao
 
Answer
# 6
real a/c : debit what come in
credit what goes out

nominal a/c :debit all expenses & loses
credit all profit & gain

personal a/c :debit the recevier
credit the giver
 
Is This Answer Correct ?    708 Yes 157 No
Lucky
 
Answer
# 7
Personal A/c : Debit the receiver
Credit the giver

Real A/c : Debit what comes in
Credit what goes out

Nominal A/c : Debit Loss and Expense
Credit Profit and Gains
 
Is This Answer Correct ?    673 Yes 145 No
I A Jude Hentry
 
Answer
# 8
Real Account : Debit what comes in
Credit What goes out

Personal Account: Debit the Receiver
Credit the Giver

Nominal Account: Debit all Expenses & Losses
Credit all Income & Gains
 
Is This Answer Correct ?    340 Yes 52 No
Ganesan Jayaraman
 
Answer
# 9
PERSONAL ACCOUNT : Debit the receiver
Credit the giver
(Its is related to peson, firm etc....................)

REAL ACCOUNT : Debit what comes in
Credit what goes out
(Its related to goods, cash etc.......................)

NOMINAL ACCOUNT : Debit all expenses and losses
Credit all incomes and gains
(Its related to incomes and expenditure (both Direct &
Indirect))
 
Is This Answer Correct ?    335 Yes 50 No
Raju Malode
 
Answer
# 10
Real account :Debit what comes in
Credit what goes out


Personal Account :Debit the receiver
Credit the giver

Nominal Account :Debit all expenses & Losses
Credit all Income & gains
 
Is This Answer Correct ?    275 Yes 53 No
Sankar
 

 
 
 
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EXPAND___________LOA   1
suppose as a company i have to pay rennt to tennant but not paid it means payable so how can ipass the entry in tally is any another rent a/c under another head required to create.   2
 
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