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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (157)
 Taxation interview questions  Taxation Interview Questions (1893)
 Accounting General interview questions  Accounting General Interview Questions (2782)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
What are the 3 Basic Rules in Accounting.
 Question Submitted By :: Rajesh
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What are the 3 Basic Rules in Accounting.
Answer
# 1
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 ?    1697 Yes 887 No
Blueskywheel
 
  Re: What are the 3 Basic Rules in Accounting.
Answer
# 2
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 ?    3538 Yes 185 No
Neeraj Garg
 
 
 
  Re: What are the 3 Basic Rules in Accounting.
Answer
# 3
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 ?    2250 Yes 158 No
Aravind
 
  Re: What are the 3 Basic Rules in Accounting.
Answer
# 4
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 ?    1423 Yes 126 No
Bhavya
 
  Re: What are the 3 Basic Rules in Accounting.
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 ?    897 Yes 100 No
Vinotha.v
 
  Re: What are the 3 Basic Rules in Accounting.
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 ?    770 Yes 96 No
Sonali
 
  Re: What are the 3 Basic Rules in Accounting.
Answer
# 7
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 ?    577 Yes 82 No
Rahul
 
  Re: What are the 3 Basic Rules in Accounting.
Answer
# 8
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 ?    635 Yes 62 No
Sunita
 
  Re: What are the 3 Basic Rules in Accounting.
Answer
# 9
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 ?    560 Yes 52 No
Pushpendra
 
  Re: What are the 3 Basic Rules in Accounting.
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 ?    390 Yes 152 No
Md. Rasheed
 

 
 
 
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