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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1913)
 Accounting General interview questions  Accounting General Interview Questions (2841)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4372)
Question
Explain "DEBIT WHAT COMES IN CREDIT WHAT GOES OUT"
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
it is one of basi accounting priniciples. if we purchase
anything for cash.
the goods are coming inside and cash is going outside.
goods purchases a/c dr.
to cash a/c
 
Is This Answer Correct ?    92 Yes 7 No
Sk
 
Answer
# 2
This is the one of the Accounting rull of Golden rules of
Accouting

Real Account is nothing but " Debit what comes in Credit
what goes Out.

For exp: Land purchased

Entry: Land A/c Dr
To Cash A/c Cr
in this exp debit comes in means Land will come our company
Credit what goes out means Cash will go out of the company
 
Is This Answer Correct ?    61 Yes 4 No
Koteswara Rao
 
 
 
Answer
# 3
This is the defination of Real Account & parts of Golden
Rule where anything come it will debit & anything goes it
wll credit ie,

Furniture A/c ------------Dr
To Cash/BAnk
 
Is This Answer Correct ?    28 Yes 4 No
Sourabh Singh
 
Answer
# 4
furniture A/c Dr
To cash A/c
 
Is This Answer Correct ?    22 Yes 4 No
Prabhakar Shankar
 

 
 
 
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