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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
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 Accounting General interview questions  Accounting General Interview Questions (2812)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4364)
Question
GOLDEN RULES OF ACCOUNTING
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 161
There are three rules for recording the transactions
personal Account:
Debit The Receiver.
Credit The Giver.
Real Account:
Debit What come in.
Credit What goes out.
Nominal Account:
Debit Expenses and losses.
Credit Incomes and gains.
 
Is This Answer Correct ?    1 Yes 0 No
M.s.a.siddiqui.
 
Answer
# 162
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 ALL INCOME and Gains
 
Is This Answer Correct ?    1 Yes 0 No
Ganesh
 
Answer
# 163
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 Expenses and Loses
Credit all Incomes and Gains

This is the correct answer
 
Is This Answer Correct ?    1 Yes 0 No
Sowmiya. M
 
Answer
# 164
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 ?    1 Yes 0 No
9461333222
 
Answer
# 165
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 Expenses & Losses
Credit all Incomes and gains.
 
Is This Answer Correct ?    1 Yes 0 No
Siva Raj....
 
Answer
# 166
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 profits[gains]
 
Is This Answer Correct ?    1 Yes 0 No
Naveethika.g
 
Answer
# 167
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 ?    1 Yes 0 No
Devadoss
 
Answer
# 168
asset increase debit asset decrease credit
expense increase debit expense decrease credit
income decrease debit income increase credit
liability decrease debit liability increase credit
 
Is This Answer Correct ?    1 Yes 0 No
Anshad
 
Answer
# 169
real a/c- dabit what comes in
credit what goes out
nominal a/c-dabit all exp & loss
credit all income and rev
personal a/c -dabit the giver
credit the recevier
 
Is This Answer Correct ?    1 Yes 0 No
Neelesh Goklani
 
Answer
# 170
Personal Account:
Receiver is Debit
Giver is Credit

Real Account:
What Comes in Debit
What goes out Credit

Nominal Account:
All Expenses and Losses Debit
All Income and Gain Credit
 
Is This Answer Correct ?    2 Yes 1 No
Padma
 

 
 
 
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