Answer Posted / saumen datta
There are two types of accounts i.e. personal and impersonal accounts. Impersonal accounts is sub-devided by real accounts and nominal accounts.
As per three golden rules :
a) Personal Accounts : Debit the receiver and Credit the giver
b) Real Accounts : Debit what comes in and credit what goes out
d) Nominal Accounts : Debit all the expenses and Credit all the incomes.
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