What is the three golden rules in Accounts ?
Answer Posted / chandrakala
Debit what comes in
Credit what goes out
Debit the receiver
Credit the giver
Debit all expenses and losses
Creit all incomes and gains
Is This Answer Correct ? | 41 Yes | 1 No |
Post New Answer View All Answers
Is it legal for an organization to keep two sets of accounting records; one for tax and one for book? Why or why not?
How to calculate Term Loan interest and the double entry for Term Loan ? What difference between hire purchase and term loan ??
Define the term material facts in accounting?
After close Balance Sheet, we find a expense which was wrongly debited in Profit and Loss A/c. How we adjust next accounting period?
I m entering much more than 500-700 sales vouchers per month. But I m getting a problem while entering sale voucher is that If I have entered a sale voucher in the middle of a date then the voucher no is being changed. So how can enter a sale voucher in the middle of a date so that i can adjust the voucher nos from changing.
adams a debtor for R600 had been declared insolvent and part of his debts has to be written off. The attorneys informed you that an amount of 25c in the rand will be paid and the rest must be written off
how to get a job in stock markets for MBA-FINANCE?
What information is included in a bill for services?
How to calculate Gratuity & when it's applicable to employee after three years or Five years?...
What are the functions of manger -accounts and manager-finance? Explain in detail
What is recording damage inventory in books of account?
we are import a cnc machine, we have availed customs duty, CVD & Additional duty credit?
Tell me do you think accounting standards are mandatory and why?
Sales tax waybill is required for how much value of invoice (for example we raise Rs.1000 bill is waybill required in andhra pradesh)
Which accounting application you prefer most and why?