What are the Golden rules of accounts? with an example?
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Answer Posted / karan singh
Real account - "Debit- what comes in"
"Credit-what goes out"
Example : Cash, Building, Land etc.
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Nominal account - "Debit-all expenses and losses"
"Credit-all incomes and gains"
Example : Salaries, Interest, Recived, Paid etc -
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Personal account - "Debit-receiver"
"Credit-giver"
Example : .SBI, The univercity of Kolkata etc--------------
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