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Categories >> Accounting >> Taxation
 
 


 

 
 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 (2781)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
What are the Golden rules of accounts? with an example?
 Question Submitted By :: Anjali
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What are the Golden rules of accounts? with an example?
Answer
# 1
there are three types of golden rules apply in accounting:
1) for personal account such as ram a/c,etc
"DEBIT THE RECEIVER,CREDIT THE GIVER"
2) for real account which are related to assets
"DEBIT WHAT COMES IN,CREDIT WHAT GOES OUT"
3) for nominal account which are related to expense,income
"DEBIT ARE ALL EXPENSES AND LOSSES,CREDIT ARE ALL
INCOME AND GAIN"
 
Is This Answer Correct ?    349 Yes 16 No
Manoj Chandra Sharma
 
  Re: What are the Golden rules of accounts? with an example?
Answer
# 2
cash sels 
Is This Answer Correct ?    45 Yes 80 No
Ghanshyam Sing
 
 
 
  Re: What are the Golden rules of accounts? with an example?
Answer
# 3
Real account-{Debit- what comes in}
{Credit-what goes out}

Nominal account-{Debit-all expenses and losses}
{Credit-all incomes and gains}

Personal account-{Debit-receiver}
{Credit-giver}
 
Is This Answer Correct ?    123 Yes 3 No
Neeraj Kumar Soni
 
  Re: What are the Golden rules of accounts? with an example?
Answer
# 4
THREE TYPES IN GOLDAN RULS OF ACCOUNTING. AS ARE FALLOWES,

1) REAL ACCOUNT :-
DEBIT WAHT COMES IN
CREDIT WHAT GOES OUT.

2) PERSONAL ACCOUNT :-
DEBIT THE RECEIVER
CREDIT THE GIVER .

3) NOMINAL ACCOUNT :-
DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND GAINS .

THESE THREE ACCOUNTS AS CALLED AS GOLDEN WORDS AND GOLDEN
RULES OF ACCOUNTS.
 
Is This Answer Correct ?    80 Yes 4 No
Indrani .h.r.
 
  Re: What are the Golden rules of accounts? with an example?
Answer
# 5
Personal Accounts : Debit the receiver
Credit the giver

Real Accounts : Debit what comes in
Credit what goes out

Nominal Accounts : Debit all expenses and losses
Credit all incomes gains
 
Is This Answer Correct ?    60 Yes 2 No
Narayanan Gokuldoss
 
  Re: What are the Golden rules of accounts? with an example?
Answer
# 6
if the purchase made means the entry is
purchase a\c
to cash
 
Is This Answer Correct ?    51 Yes 10 No
Kumar
 
  Re: What are the Golden rules of accounts? with an example?
Answer
# 7
Personal A/c
Debit the receiver
Credit the giver
Nominal A/c:
Debit all incomes and losses
Credit all expenses and gains
Real A/C:
Debit what comes in
Credit what goes out
 
Is This Answer Correct ?    34 Yes 14 No
Arthi
 
  Re: What are the Golden rules of accounts? with an example?
Answer
# 8
trasaction:

Purchase shares of Rs. 10K and chq. issued.

Jrnl Entry:

Dont know, plz help me out. Actualy I want to know if any shares,mutual fund or govt. seq. purchased, then it comes under which account i.e real or nominal or personal???
friends plz help me
 
Is This Answer Correct ?    27 Yes 14 No
Sandip Kumar
 
  Re: What are the Golden rules of accounts? with an example?
Answer
# 9
securites are treated as asset so its include in
personal a/c securites dr. to bank
 
Is This Answer Correct ?    17 Yes 10 No
Osama.hunk@gmail.com
 
  Re: What are the Golden rules of accounts? with an example?
Answer
# 10
----------------------------------------------------
Real account - "Debit- what comes in"
"Credit-what goes out"
Example : Cash, Building, Land etc.
----------------------------------------------------
Nominal account - "Debit-all expenses and losses"
"Credit-all incomes and gains"
Example : SBI, The univercity of Kolkata etc.
----------------------------------------------------
Personal account - "Debit-receiver"
"Credit-giver"
Example : Salaries, Interest, Recived, Paid etc.
----------------------------------------------------
 
Is This Answer Correct ?    42 Yes 15 No
Anowar Hossain
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
A cement product which MRP value is Rs. 280. Now how it calculate the Basic Excise on MRP or my Selliing value from factory?   2
if mr.X get 2,00,000.00 per month salary. than how we will calculate his tds. ABB 1
what is the rate of (194h) TDS   5
I want to know that can we get input vat credit against tax invoice/retail invoice/& commercial invoices. Our auditor is saying that only tax invoice is libel for vat input credit. But many parties issue us retail invoice & commercial invoice.   2
1. what is the last date for payment of tds for the month of March? 2.Will the due date differs for each assessment years? if so what is due date for payment of tds for March Month for the Assessment year 2008-09?   2
which form is used for Monthly VAT Deposit into sale tax office in gurgaon, and what is last date of deposit of VAT   4
what is Rate of Service tax and Entry of Service Tax?   3
Is Govt staff also paying taxes in India   1
what is the vat rate for gold coin - 24 carrots in karnataka.   2
what is mean by vat (value add tax) what is that value, is it gross amount of purchase/sales, or it net of amount of pur/sales - on which it will calculated, i need with example   3
WHAT IS EXCISE DUTY RATE IN HARYANA   4
TCS AND TDS I.T RETURN   1
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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