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Answer Posted / ch.brahmaji
2types of rules of accounting
1) personal accounting
2) impersonal accounting
1) personal accounting in that include of only personal
related to account rules
1 natural person
2 artificial person
3 Representative person rules of using
PERSONAL ACCOUNTS DEBIT THE RECEIVER
CREDIT THE GIVER
impersonal accounting
1 nominal accounting
2 real accounting
NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES
real accounting is assets
in that many types of assets are like fixed assets ,current
assets ,
REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OU
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