Answer / suhasini modagi

According to me whatever answer posted above is not correct
because, they have highlighted basic principals of
accounting and not rules of accounting.
total assests: Liab+Capital
Total Liab: Capital -Assests
Capital: Equity+liab(Borrowed Capital)

Answer / smriti arora

For these rules all the accounting transactions are divided
into three accounts: Real, Nominal and Personal. And the
rule says:

Real Account:
Debit what comes in
Credit what goes out

Personal Account:
Debit the reciever
Credit the giver

Nominal Account:
Debit all expenses and losses
Credit all incomes and gains

Answer / mahesh kumar

1.Real Account
what comes in Dr
what goes out Cr

2.Personal Account
The Reciver Dr
Giver Cr

3.Nominal Account
All Expenses Dr
All incomes Cr

Answer / pramod adhikary

There are two kinds of accounts: 1. Personal Account, and
2. Impersonal Account

1. Personal A/C Dr. the Receiver, Cr. the giver

2. Impersonal account can be devided in to two groups: 1.
Nominal A/C, 2. Real A/C

2.1. Nominal A/C : All expenses and losses Dr., and all
income and gains Cr.

2.2. Real A/C: Dr. what goes out, Cr. what comes in

Answer / nagesh

what is the mean of INPUT &OUTPUT TAX ,
and what is the mean of INPUT & OUT PUT VAT

Answer / nitesh

Basic Rule of accounting also called the three golden rule
of accounting.these are followings-

1.Personal Account: means related to individual
Debit the Receiver
Credit the Giver
2. Real Account:means that we can see or touch
Debit What comes in
Credit What goes out
3.Nominal Account: which we can not see or touch
Debit all expenses and losses
Credit all incomes and gains

Answer / n.kalavathi

1.Personal A/c:
1.Debit the receiver
2.Credit the giver.

2.Real A/c:
1.Debit what comes in
2.Credit what goes out.

3.Norminal A/c:
1.Debit all expenses and loss
2.Credit all incomes and gains.

Answer / m.neeraja

personal a/c: D.R the receiver
c.r the giver

Real a/c : d.r what comes in
c.r what goes out

nominal a/c : d.r all expenses&losses
c.r all incomes & gains.

Answer / sajidthurki

1.total asset = total of liability(including owners equity)
2. total of liability = total of asset-owners equity
3. total owners equity= total of assets - total of
liabilities.

Answer / rakesh

#1 Personal A/C

Debit the receiver
Credit the giver

#2 Real A/C

Debit what comes in
Credit what goes out

#3 Nominal A/c

Debit all the Exp. & losses
Credit all the income & gains

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