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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 (2812)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4364)
Question
What are the 3 Basic Rules in Accounting.
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
1. Debit to receiver
Credit to giver

2. Debit what comes in
Credit what goes out

3. Debit All Exp /Loss
Credit Income/Gain
 
Is This Answer Correct ?    3609 Yes 188 No
Neeraj Garg
 
Answer
# 2
1.personal account
debit the receiver
credit the giver
2.nominal account
all expence and loses debit
all incomes and gains credit
3.real account
what comes in debit
what goes out credit
 
Is This Answer Correct ?    2295 Yes 159 No
Aravind
 
 
 
Answer
# 3
There 3 basic rules in Accounting

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
 
Is This Answer Correct ?    1447 Yes 128 No
Bhavya
 
Answer
# 4
Rule 1: Total asset= Total liab + owner's Equity

Rule 2: Debit: all exp & loss
Credit: all income & gain

Rule 3: Total of debit side = Total of credit side
 
Is This Answer Correct ?    1738 Yes 906 No
Blueskywheel
 
Answer
# 5
Personal A\C

Receiver a\c Dr
Giver a\c Cr

Nominal A\C

All expenses & loss a\c Dr
All income & gain a\c Cr

Real A|C

What comes in a\c Dr
What goes out a\c Cr
 
Is This Answer Correct ?    907 Yes 102 No
Vinotha.v
 
Answer
# 6
Basic rules in Accounting

Personal Account:
Debit Receiver of the benefit
Credit Giver of the benefit
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 ?    777 Yes 98 No
Sonali
 
Answer
# 7
There are three basic rules in accounting

Real Account: what comes in--Dr
what goes out-----Cr

Personal Account:the receiver--Dr
the giver--------Cr

Nominal Account: All expenses and losses--Dr
All income and gains-------Cr
 
Is This Answer Correct ?    641 Yes 64 No
Sunita
 
Answer
# 8
for personal account
debit to receiver
credit the giver


for real account
debit what comes in
credit what goes out

for nominal account
debit all exp/losses
credit income/gain
 
Is This Answer Correct ?    565 Yes 54 No
Pushpendra
 
Answer
# 9
Personal Accounts :All the personal A/c as ramesh A/c, raj
A/c are included . A person who takes debited and a person
who gives credited
Real Accounts: All the real A/c as fixed assets which is
real in nature are included inwhich whatever comes in
debited and watever goes out credited
Nominal A/c : In the nominal A/c all the Expenses & loss IS
debited and all the incomes and gains is credited
 
Is This Answer Correct ?    584 Yes 86 No
Rahul
 
Answer
# 10
1)Capital=Assets-liabilities
2)Debit side should be equal to credit side
Debit all exp&loss and credit all incomes and gains
3)Increase in debit should not be equal to credit
 
Is This Answer Correct ?    394 Yes 155 No
Md. Rasheed
 

 
 
 
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