Answer / dharani

There are three types of accounts. Personal, Real, and
Nominal. For recording transactions and to categorise
whether it is debit or credit, golden rule is important.

Personal - Debit the Receiver & credit the giver.
Real - Debit what comes in & credit what goes out.
Nominal - debit all expenses and losses/credit all incomes
and gains.

Answer / adish jain

personal accounts ( dr. the receiver and cr the giver)
real a/cs ( dr. whats comes in and cr what goes out)
nominal a/cs (dr all expenses and cr all incomes

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