What are the Golden rules of accounts? with an example?
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Answer Posted / indrani .h.r.
THREE TYPES IN GOLDAN RULS OF ACCOUNTING. AS ARE FALLOWES,
1) REAL ACCOUNT :-
DEBIT WAHT COMES IN
CREDIT WHAT GOES OUT.
2) PERSONAL ACCOUNT :-
DEBIT THE RECEIVER
CREDIT THE GIVER .
3) NOMINAL ACCOUNT :-
DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND GAINS .
THESE THREE ACCOUNTS AS CALLED AS GOLDEN WORDS AND GOLDEN
RULES OF ACCOUNTS.
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