Answer Posted / naveengokarapu@gmail.com
Accounts are classified into 3 types:
1.PERSONAL ACCOUNTS DEBIT- THE GIVER
CREDIT THE RECEIVER
2.REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
3.NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES
Is This Answer Correct ? | 5 Yes | 3 No |
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