Answer Posted / vinotha.v
FUNDAMENRALS OF ACCOUNTING :
1.PERSONAL A/C,
2. NOMINAL A/C,
3. REAL A/C.
PERSONAL A/C :
DEBIT THE RECEIVER
CREDIT THE GIVER.
NOMINAL A/C:
DEBIT ALL EXPENDITURE
CREDIT ALL INCOMES.
REAL A/C:
WHAT COMES IN
WHAT GOES OUT.
SO VERY IMPORTANT POINT DEBIT AND CREDIT.
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