Let me know why we debit expenses and credit revenues
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Answer / goutam de
BECAUSE WE FOLLOW THE 3RD BASIC PRINCIPLES OF ACCOUNTING BY
DEBITING ALL EXPENSES AND LOSSES & CREDITING INCOMES &
GAINS
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / sindujaramkumar
according to the rule of nominal account
Debit all expenses and losses
credit all incomes and gains
we are debiting the expenses and cediting incomes
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Answer / hemanta behera(maxnewyork life
it is only used nominal account
because we are used all expenses under this rules
debit all expenses and losess
credit all incomes and gains
it is consists monthle expenses
| Is This Answer Correct ? | 1 Yes | 0 No |
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