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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 (1893)
 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
# 161
Personal A/C Says that : Debit the Reciever
Credit the Giver

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

Nominal A/c Says that : Debit all expenses & Losses
: Credit all Income & gains
 
Is This Answer Correct ?    0 Yes 1 No
Babu R H
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 162
rule 1 - credit what comes in and debit what goes out

rule 2 - credit exps and losses and debit incomes and gains

rule 3 - credit the receiver and debit the giver

rule 4 - credit (what goes out+incomes and gains+giver)
debit (what comes in + exps and losses + the receiver)
 
Is This Answer Correct ?    1 Yes 2 No
V.r. Madhavan
 
  Re: GOLDEN RULES OF ACCOUNTING
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 expenses or losses
Credit gains or incomes.
 
Is This Answer Correct ?    2 Yes 1 No
Banajit Haloi
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 164
Personal a/c:Debit the reciever
credit the giver
Real a/c:debit what comes in
credit what goes out
Nominal a/c:debit all expenses and losses
credit all incomes and debts
 
Is This Answer Correct ?    1 Yes 1 No
Sunanda Banerji
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 165
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 ?    0 Yes 1 No
Sudarshan
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 166
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 ?    1 Yes 0 No
Uday Mandal
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 167
there are 4 Golden Rules of accounting

1 personel * debit the receiver
* credit the giver

2 real * debit what comes in
* credit what goes out

3 nominal * debit all expences and losses ex discount
recieved,commission received
* credit all incomes and gains ex salary,
rent,advertisment,

4 personel representive a/c
 
Is This Answer Correct ?    1 Yes 0 No
Milind Sawant
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 168
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.
 
Is This Answer Correct ?    0 Yes 1 No
Apurva Trigunait
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 169
Real A/c :- Dr. What come in
Cr. What goes Out
Example Purchases & Sales
Personal A/c :- Dr. the giver
Cr. The Receiver
Example Bank a/c. Mr. A A/c


Nominal A/c :- Dr. All expenses & losses
Cr.All Income & gains

Example Salary A/c , Bad Debts A/c,Discount Received A/c
 
Is This Answer Correct ?    2 Yes 0 No
Prashant
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 170
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 expences and losses
Credit all incomes and gains
 
Is This Answer Correct ?    0 Yes 1 No
Abhimanyu Verma
 

 
 
 
Other Accounting AllOther Interview Questions
 
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expand I R   1
difference between company and industry?   6
Expand ------HH Wipro 2
Choose the right answer Which of the following is the Asset account 1.Accounts receivable 2.accounts Payable 3.Customer Deposit   3
Operating Income means--------------------------   1
how to calculate basic in provident fund under salaries? ACS 1
what do mean by drawing?   7
define GOODWILL   2
In telephronic round i would like to know what questions will be asked to a person and how we should answer it?   1
What is suspense Account? IBM 21
WHAT IS PORTFOLIO MANAGEMENT? India-Infoline 15
 
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