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Categories >> Accounting >> Accounting AllOther


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What are the 3 Basic Rules in Accounting.
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
# 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 ?    3604 Yes 187 No
Neeraj Garg
# 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 ?    2290 Yes 159 No
# 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 ?    1443 Yes 128 No
# 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 ?    1735 Yes 906 No
# 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 ?    906 Yes 101 No
# 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 97 No
# 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 ?    640 Yes 63 No
# 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 ?    564 Yes 53 No
# 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 85 No
# 10
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 154 No
Md. Rasheed

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