Answer Posted / kedar
THERE ARE THREE GOLDEN RULES IN ACCOUNTS,ON THIS THREE BASE
RULE BLDG OF ACCOUNTING IS CONSTURCTED
PERSONAL A/C:DEBIT THE RECEIVER
CREDIT THE GIVER
REAL A/C:DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL A/C:DEBIT ALL EXP & LOSES
CREDIT ALL INCOME & GAINS
ALL THESE ARE FROM BUSINESS POINT OF VIEW
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