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types of accounts and its rules
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Types of accounts
1. Personal,
2. Real,
3. Nominal.
Rules of Accounting:
1. Personal Accounts: Debit the receiver; Credit the giver
2. Real Accounts: Debit what comes in; Credit what goes out
3. Nominal Accounts: Debit expenses & losses; Credit incomes
& gains
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / sumitra.raghavan
accounts are :Personal account dr the receiver,cr the giver
real account dr what comes in cr what goes out
nominal account dr all expenses and losses cr
all incomes and gain
| Is This Answer Correct ? | 0 Yes | 0 No |
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