What is the 3 basic rules in accounting by account?
What is the 3 type in basic rules?
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There are 3 types of accounts namely
1.Personal account
2.Nominal account
3.Real account
Rule for personal account
*debit the receiver
*credit the giver
Rule for nominal account
*debit all expenses & losses
*credit all incomes &gains
Rule for real acount
*debit what comes in
*credit what goes out
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