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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 (2830)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4369)
Question
GOLDEN RULES OF ACCOUNTING
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 41
Golden Rules of Accounting

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
(Its related to incomes and expenditure (both Direct &
Indirect)) Credit all Incomes and Gains
 
Is This Answer Correct ?    17 Yes 8 No
Sameer
 
Answer
# 42
Personal a/c - Debit what comes in
Credit what goes out

Real a/c - Debit the receiver
Credit the giver

Nominal a/c - Debit all expenses & losses
Credit all incomes & gains
 
Is This Answer Correct ?    9 Yes 0 No
Padma
 
Answer
# 43
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
 
Answer
# 44
Accounts divided into two types 1.Personal A/c &
2.Impersonal, impersonal A/c again divided into two types
which is a)Nominal A/c & b)Real A/c.

Personal A/c: Debit is receiver and Credit is the giver.
Nominal A/c: All expenses and losses are Debit and all
incomes and gains are Credit.
Real A/c: What comes in and whats goes out.
But there is a only logic behind this that is Debit &
Credit.
 
Is This Answer Correct ?    12 Yes 5 No
S J Baig
 
Answer
# 45
Basicly three golden rule of accounting

1 personal accounts : Debit the reciever and credit the
giver

2 nominal accounts : Debit all the exp and loss and
credit, all the profits and gains

3 Real accounts : Debit whats comes in and credit
whats goes out
 
Is This Answer Correct ?    10 Yes 3 No
Gursewak Satsangi
 
Answer
# 46
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
 
Answer
# 47
debit the reicever
credit the giver


debit what comes in
credit whart goes out


debit all expenses and losses
credit all income and gains
 
Is This Answer Correct ?    12 Yes 6 No
Sheetal
 
Answer
# 48
Personal A/c
Dr. the receiver
Cr. the giver

Real A/c
Dr. what comes in
Cr. what goes out

Nominal A/c
Dr. all expenses & losses
Cr. all Incomes & gains
 
Is This Answer Correct ?    7 Yes 1 No
Vinita
 
Answer
# 49
Personal A/C: Debtit the reciever
Credit the giver

Real A/C: Debit wat comes in
Credit wat goes out

Nominal A/C: Debit all expenses & losses
Credit all incomes & gains
 
Is This Answer Correct ?    6 Yes 0 No
Vishal
 
Answer
# 50
REAL ACCOUNT=
DEBIT WHAT COMES IN.
CREDIT WHAT GOES OUT.

NOMINAL ACCOUNT
DEBIT ALL EXPENSES AND LOSSES.
CREDIT ALL INCOMES AND REVENUES.

PRESONAL ACCOUNT
DEBIT THE RECEIVER.
CREDIT THE GIVER.
 
Is This Answer Correct ?    6 Yes 0 No
Samapti
 

 
 
 
Other Accounting AllOther Interview Questions
 
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what experience you have as cashier?   4
Expand---------MDTR   1
WHAT DO MEAN BY BRS   5
general rule for personal account hp 1
What is Liquidity   1
can anyone give the journal entry with the amount 10 tv bought in the business for 1000 each, out of which one is installed. Genpact 34
what is the MIS Reports   2
What is Fringe benifits tax?   3
what is cost of goods sold ? Capital-IQ 21
Expand ________GAAP   2
what are the basic 3 rules of accounting HSBC 6
What is the treatment for PRELIMINARY EXPENSES? Capital-IQ 27
 
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