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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 (2782)
 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
# 41
Real Account - Debit what comes in
Credit what goes out

Personal Account - Debit the receiver
Credit the giver

Nominal Account - Debit all expenses and loses
Credit all income and gains
 
Is This Answer Correct ?    11 Yes 2 No
Safalya Das
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 42
GOLDEN RULES OF ACCOUNTING:

I. PERSONAL ACCOUNT:

i. DEBIT THE RECEIVER
ii. CREDIT THE GIVER

II. IMPERSONAL ACCOUNT

1.REAL ACCOUNT:

i. DEBIT WHAT COMES IN
ii. CREDIT WHAT GOES OUT

2. NOMINAL ACCOUNT:

i. DEBIT ALL EXPENSES AND LOSSES
ii. CREDIT ALL INCOMES AND GAINS
 
Is This Answer Correct ?    14 Yes 3 No
Arul Sakthi
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 43
PERSONAL A/C
DEBIT IS THE RECIVER
CREDIT IS 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 GAINS
 
Is This Answer Correct ?    9 Yes 2 No
Prasathmani
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 44
Golden Rules of Accounting
Personal A/c
Reciever will be debit.
Giver will be Credit.
Real A/c
Coming assets will be debit.
Going assets will be credit.
Nominal A/c
expences & losses always debit.
Income & profit always credit.
 
Is This Answer Correct ?    11 Yes 1 No
Vineet Sharma
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 45
Personal A/C - Debit the receiver of benifit
Credit the Giver of benifit

Real A/C - Debit the Asset comes in the organisation
Credit the Asset goes out of organisation

Nominal A/C - Debit all expenses and losses
Credit all revenues and profits.

All the above Golden rules of accounting known as
principles of Accountancy as invented of fa-Luca-Faciolo
(the father of Accountancy who invented the double entry
system).
 
Is This Answer Correct ?    9 Yes 4 No
Chalapathi Rao Govada
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 46
personal account:debit is the receiver
credit is the giver.
real account: debit what comes in ,
credit what goes out.
nominal account: debit what expenses & losses,
credit what incomes & gains.
 
Is This Answer Correct ?    11 Yes 0 No
Jiban Tripathy
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 47
Personal A/c: Debit the receiver
Credit the Giver

Real A/C : Dr. What come in
Cr. What goes out

Nominal A/C : Dr. All expense & loss
Cr. All incomes & gains
 
Is This Answer Correct ?    13 Yes 1 No
Richa Gupta
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 48
personal a\c debit the reciver
crrdit the giver
real a\c debit what come in
credit what gose out
nominal a\c debit all loss
credit all gain
 
Is This Answer Correct ?    12 Yes 0 No
Indhumathi
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 49
There are three rules of accounting---
1-real account(e.g.cash,good,etc)
debit-what comes in
credit-what goes out
2-personal(e.g.company name,firm)
debit-benifit to receiver
credit-benifit to giver
3-nominal account(e.g. exp.&income)
debit-all exp. and losses
credit-all income and gain
 
Is This Answer Correct ?    13 Yes 2 No
Sonesh Kumar
 
  Re: GOLDEN RULES OF ACCOUNTING
Answer
# 50
Persoanl A/c. :- Lenar A/c. Dr
Apnar A/c. CR


Malmilkat A/c. :- Ave to A/c. Dr
Jay to A/c. Cr.

Upaj Kharch a/c:- Kharch Khata Dr
. Upaj Khate CR
 
Is This Answer Correct ?    12 Yes 4 No
Master
 

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
Minimum and maximum members to create the following Sole trading Partnership Private ltd co Public ltd co   1
what are thw diferrences between a cash book & a petty cash book?   5
EXPAND_________UAPA   1
What is the difference between input vat & out put vat?   9
EXPAND___________NSA   2
is outstanding items (either expences or incomes) comes in trial balance? if so how to treat them in financial statements   4
What is Deffered Tax? Capital-IQ 11
What is sezs TATA 12
Can any body answer me what is the logic of writing A/c's payee over the corner of the cheque?   5
Received from Krishna Murthy Rs 26500/- in full settlement of due Rs 30000/-. Pass entry   8
who elect board of directors in company?   1
what is insider trading? Capital-IQ 3
 
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