What is the types of accounts & it's rules ?

Answer Posted / anusha s t

personal account:debit the receiver and credit the giver.
real account: debit what comes in and credit what goes out.
nominal account: debit the expenses and credit the incomes.

Is This Answer Correct ?    92 Yes 11 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Q A project cost Rs.6,00,000. It yields annually a profit of Rs.80,000. After depreciation of 12.5% p.a.but before tax of 50%.Calculate payback priod.

1916


what is mixed invoice, prepaid invoice,quick invoice,podefault invoice,withholding tax invoice,please explain me in detail?

1861


The partners agreed to take hero honda vehicle of Rams as firms vehicle by giving credit to his capital account. The vehicle was valued for Rs 65000/-Pass necessary entry

1658


Difference between cash and merchantile system?

1833


Explain howyou would account for the following items/situations,justifying answers by reference to the conceptual frameworks defintion and rcognition criteria. a)A trinket of sentimental value only b)You are the guarantor for your friends bank loan i) You have no reason to belive that your friend will default on the loan ii) As your friend is in serious financial dificulties,you think it is likely that he will default on the loan c)You receive 1000 shares in X Ltd,trading at $4 each,as a gift from a grateful client. d)The panoramic view of the coast from your cafes windows,which you are convinced attracts customers to your cafe

3222






What is Home Loan Modification?

1727


Give the balance sheet schedules ,what is differe tax, GIVE THE RATES OF DIFFERED TAX FOR THE YEAR 2008-09

1847


What is account

1759


What is the role oF Jr Financial Analyst ? And what are the General Questions Asked for this Profile For freshers ?

1440


Who is the maker of the promissory note

1533


explain the financialand economic meaning of investment?

1752


Hi friends can you send me the Accounting Interview questions with a interview experienced questions please

1750


What do u mean by pass through expenses? give examples, how it will be accounted & billed?

5470


I've just started to work as an accounts executive and intending to take up SAP. Can anyone tell me what are the preparations required for me as an accountant to be a successful SAP consultant.

1672


What is EBITDA

1427