Answer Posted / padma

Personal Account:
Receiver is Debit
Giver is Credit

Real Account:
What Comes in Debit
What goes out Credit

Nominal Account:
All Expenses and Losses Debit
All Income and Gain Credit

Is This Answer Correct ?    2 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What do we mean by the term "Securities" when we say that "Govt injecting/sucking liquidity in/out of the system by buying/selling securities?

1642


Being BE student why you want to join bank?

1868


What si the differance between REVENUE and PROFIT?

1466


Debit Note & Credit Note?

1700


how to calculate IT? if bank intrest:1036 , long term capital gain:448841 short term capital gain :894 , income from rent 225000, and income from other source 347478, Advance tax paid 25000,lic 101508, medicliam 6990 and tds recd.25000

1617






what is the difference between Assets Allocation & Security selection?

2328


What are the things are not Included in Annual Reports?

1591


What does stand for EPD,MIS? Can anyone tell me briefly n clearly about this?

1837


what is assessment? how many types of assessment will be there? and what is the documents and preparations for sales tax, service tax assessments??

1531


What is the Technology used to carry out trades?

4095


Upto what age PF will be deducted for an employee? And what age he is eligible to gratuity?

1440


Please tell me about service tax, tds, vat & ITR return with A to Z completely detail.

1603


i have working in contruction company i want billing outside delhi pls. tell me can i bill with tax invoice party provide tin no.

1573


what is undisclosed profit? explain

1957


WHY LOSS IN BUSINESS IS SHOWN IN ASSETS SIDE OF BALANCE SHEET? WHY EXCISE DUTY IS DEDUCTED FROM THE GROSS SALES TO ARRIVE NET SALES? WHY SALES TAX IS NOT DEDUCTED FROM SALES TO ARRIVE NET SALES?

2032