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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (157)
 Taxation interview questions  Taxation Interview Questions (1892)
 Accounting General interview questions  Accounting General Interview Questions (2781)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
GOLDEN RULES OF ACCOUNTING
 Question Submitted By :: Dr. R.srinivasan
I also faced this Question!!     Rank Answer Posted By  
 
  Re: GOLDEN RULES OF ACCOUNTING
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 GIVER
CREDIT THE RECEIVER
 
Is This Answer Correct ?    5600 Yes 2778 No
Vishnu Vardhan
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 2
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 ?    6176 Yes 561 No
Sachin
 
 
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 3
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 ?    3248 Yes 277 No
Swapna
 
  Re: GOLDEN RULES OF ACCOUNTING
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 ?    1703 Yes 253 No
Santosh
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 5
Personal A/c- Debit the receiver.
Credit the giver.

Real A/c - Debit what comes in.
Credit what goes out.

Nominal a/c - Debit all incomes and gains.
Credit all Expenses and losses.
 
Is This Answer Correct ?    882 Yes 725 No
Shilpi Kumari
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 6
Personal A/c- Debit the receiver.
Credit the giver.

Real A/c - Debit what comes in.
Credit what goes out.

Nominal a/c - Debit all incomes and gains.
Credit all Expenses and losses
 
Is This Answer Correct ?    628 Yes 637 No
Sandipan Kumar
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 7
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 ?    534 Yes 514 No
Musaib
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 8
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 ?    736 Yes 164 No
Nageswara Rao
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 9
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 ?    658 Yes 145 No
I A Jude Hentry
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 10
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 ?    690 Yes 155 No
Lucky
 

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
Accounting Question Help Please? I would like to know how I should journalize this entry: Credit invoice received from Sam's Trailors for a 10% price adjustment on invoice #515, $1910 Please tell me what to debit/credit....purchase discounts, or purchase returns. THANKS   1
Difference between operating profit and netprofit. Capital-IQ 2
Name any 3 heads shown under assets side of balance sheet.   7
Why do call p&la/cas a P&l a/c ?, why not P{or}L a/c Bank-Of-America 13
Create Good Will of Rs 125000 and apportioned between the existing partners A,B and C as per their sharing ratios 25%,35% and the remaing %. Pass journal entry   1
what is the difference between GATT & WTO   2
what is golden rules of accounts Reliance 6
what is the step in preparing the schedule of audit? can someone explain for me?   1
Trading account reveals---------Profit and loss account reveals ---------   4
What do you mean by invoice? HSBC 4
How many types of Purchase Orders are there ?   2
What do you mean by the word Purchase   4
 
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