Golden rules of accounting
Answer Posted / hiten
Personal Account:Debit the receiver
Credit the giver
Real Account : Debit what comes in
Credit what goes out
Nominal Account : Debit all expenses and losses
Credit all incomes and gains
Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
give me only one transactions in both side (debit&credit) should be in real accounts
What is the value of inventory as per Financial Accounts (AS2) and as per Cost accounts? Someone told me that as per cost accounts only works costs is considered in CARR while for FA, AS2 is followed with cost or NRV whichever is lowewr? Please explain the difference.
Which Exchange determine Foreign Exchange/Currency Rate?
what are the importance accounting entries for AP and AR process in interview..
define fixed assets
With a 600 credit score, how to improve my credit rating score?
after payment of interest of a loan account by using credit note voucher in tally 9........don't anyone thinks that we have to adjust the cash account by passing cr entry on journal for interest payment...
EXPAND_________SEAMEC
You are required to show the effect of each of the following changes on profit and Break-Even-Volume from the information given below: Sales 50,000 units Rs. 5.00 per unit Variable cost Rs. 3.00 per unit Fixed cost Rs. 70,000 Changes: (i) Price changes by 20%. (ii) Volume decreases to 40,000 units. (iii) Variable cost increases to Rs 3.50 per unit. (iv) Fixed cost decreases by 10%.
How can fictitious assets be measured or valued?
how many schedules are there in accounting?
EXPAND_________SEB
Define Bill of Exchange
Short Answer on ___________fluctuating capital
Expand---------MDOT