Answer Posted / dharani
There are three types of accounts. Personal, Real, and
Nominal. For recording transactions and to categorise
whether it is debit or credit, golden rule is important.
Personal - Debit the Receiver & credit the giver.
Real - Debit what comes in & credit what goes out.
Nominal - debit all expenses and losses/credit all incomes
and gains.
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The net profit of the company was Rs.76 million. The
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