what are the golden rule of accounting.
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Answer / swati shinde
There are three accounts
1. Personal
2. Real
3. Nominal
The three golden rules are
1. personal Account
Debit the receiver & Credit the giver
2. Real Account
Debit what comes in & credit what goes out
3. Nominal Account
Debit the expenses & Losses & Credit the Income & gain
Is This Answer Correct ? | 309 Yes | 7 No |
Answer / vinodkumar
There are Three golden rules in accountings
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 ? | 83 Yes | 7 No |
1. Debits always equal credits
2. Increases do not necessarily equal decreases and,
3. Assets - liabilities = owner's equity (the accounting
equation).
and
There are three accounts
1. Personal
2. Real
3. Nominal
The three golden rules are
1. personal Account
Debit the receiver & Credit the giver
2. Real Account
Debit what comes in & credit what goes out
3. Nominal Account
Debit the expenses & Losses & Credit the Income & gain
Is This Answer Correct ? | 72 Yes | 14 No |
Answer / g krishna
1) debit the receiver and credit the giver
2) debit what comes in credit whats goes out.
3) debit all expences and loses and credit all income and
gains.
Is This Answer Correct ? | 49 Yes | 7 No |
Answer / nirmal
1. PERSONAL
2. REAL
3. NOMINAL
PERSONAL - DEBIT THE RECEIVER
CREDIT THE GIVER
REAL - DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL - DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND GAINS
Is This Answer Correct ? | 38 Yes | 4 No |
Answer / prabhakar reddy
1. Debits always equal credits
2. Increases do not necessarily equal decreases and,
3. Assets - liabilities = owner's equity (the accounting
equation).
Is This Answer Correct ? | 83 Yes | 56 No |
Answer / parisa siva koteswara rao
Three are two golden rules in accountings
1.Personal account
2.impersonal Account
impersonal account again two rules
1 real account
2.nominal account
personal account means:
Debit the receiver, credit the giver
Real account means:
Debit what comes in., Credit what goes out
Nominal account means:
Debit all expenses and losses,credit all incomes and
gains
Is This Answer Correct ? | 36 Yes | 10 No |
Answer / anshad
asset- increase -debit
asset - decrease - credit
liability-increase-credit
liability- decrease - debit
expense - increase - debit
expense - decrease - credit
income - increase - credit
income - decrease - debit
Is This Answer Correct ? | 45 Yes | 21 No |
Answer / suraj bepari
There are three accounts
1. Personal
2. Real
3. Nominal
The three golden rules are
1. personal Account
Debit the receiver & Credit the giver
2. Real Account
Debit what comes in & credit what goes out
3. Nominal Account
Debit the expenses & Losses & Credit the Income & gain
In a short form & easy to understand ----
asset- increase -debit
asset - decrease - credit
liability-increase-credit
liability- decrease - debit
expense - increase - debit
expense - decrease - credit
income - increase - credit
income - decrease - debit
Is This Answer Correct ? | 24 Yes | 7 No |
Answer / antony raj
personal account
debit receiver
credit giver
real account
what comes in
what goes out
nominal account
expenses and losses
income and gain
Is This Answer Correct ? | 19 Yes | 6 No |
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