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Categories >> Accounting >> Accounting AllOther
 


 

 
Question
GOLDEN RULES OF ACCOUNTING
 Question Submitted By :: Accounting AllOther
  I also faced this Question!!      
Answer Posted By  
 Answers were Sorted based on User's Feedback
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 RECEIVER
CREDIT THE GIVER 

Is This Answer Correct ?    6289 Yes 571 No
sachin
 
Answer
# 2
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 ?    3337 Yes 283 No
swapna
 
 
Answer
# 3
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 ?    5666 Yes 2802 No
vishnu vardhan
 
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 ?    1732 Yes 255 No
santosh
 
Answer
# 5
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 ?    762 Yes 167 No
nageswara rao
 
Answer
# 6
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 ?    709 Yes 157 No
lucky
 
Answer
# 7
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 ?    673 Yes 145 No
i a jude hentry
 
Answer
# 8
Real Account : Debit what comes in
Credit What goes out

Personal Account: Debit the Receiver
Credit the Giver

Nominal Account: Debit all Expenses & Losses
Credit all Income & Gains 

Is This Answer Correct ?    340 Yes 52 No
ganesan jayaraman
 
Answer
# 9
PERSONAL ACCOUNT : Debit the receiver
Credit the giver
(Its is related to peson, firm etc....................)

REAL ACCOUNT : Debit what comes in
Credit what goes out
(Its related to goods, cash etc.......................)

NOMINAL ACCOUNT : Debit all expenses and losses
Credit all incomes and gains
(Its related to incomes and expenditure (both Direct &
Indirect)) 

Is This Answer Correct ?    335 Yes 50 No
raju malode
 
Answer
# 10
Real account :Debit what comes in
Credit what goes out


Personal Account :Debit the receiver
Credit the giver

Nominal Account :Debit all expenses & Losses
Credit all Income & gains 

Is This Answer Correct ?    275 Yes 53 No
sankar
 

 
 
 
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