Answer / keshav

Accounting is a means of collecting of summarizing analysis
and reporting in monetary terms information about business...

Branches of accounting .
1. financial accounting
2. cost accounting
3. management accounting

Answer / g.naresh

Accounting Principles are:

Personal Account: Debit the Receiver and
Credit the Giver.

Real Account: Debit what Comes In and
Credit what Goes Out.

Nominal Account: Debit all Expenses and Losses and
Credit all Gains and Incomes

Answer / irshad khan

Real
Personal
nominal

Answer / neha

accounting principles are the set of rules, regulations and
standards followed by all the companies world wide in
accounts like GAAR generally accepted accounting rules.
real , nominal, personal acc are the type of accouts.

Answer / chaitra.m

The 3 main accouting principles are

- Personal a/c :Dr the receiver Cr the giver

- Real a/c :Dr what comes in Cr what goes out

- Nominal a/c :Dr all expenses & loses Cr all incomes & gains

Answer / satish

1)REAL ACCOUNT: COMES IN DEBIT ACCOUNT
GOES OUT CRIDET ACCOUNT
2)Nominal Account: all Expenses and LossesDebit Account
all Gains and Incomes Credit Account
3)Personal Account: Debit the Receiver and
Credit the Giver.

Answer / gopakumar

Personal A/C :- Debit the Receiver Credit the Giver
Real A/C :- Debit what comes in Credit what goes out
Nominal A/C :- Debit all Expenses & Losses Credit all Incomes & Gains

Answer / santosh gophane

The Accounting Principles are : -

Money Measurement Concept
Going Concern Concept
Cost Concept
Conservative Concept
Accounting Period Concept
Accrual Concept
Matching Principle
Consistency Principle

Answer / vikas

Accounting principles or Generally Accepted Accounting
Principles are a set of rules that are to be followed while
preparing the final accounts. The principles are:
Separate entity concept
Going concern concept
money measurement concept
cost concept
accounting period concept
realization concept
dual-aspect concept
accrual concept
matching concept
objective evidence concept
consistency
full disclosure
conservatism
materiality

Answer / shishu pal singh

Three types of Accounting Principal

1. Personal Account
Dr - Reciever
Cr. - Giver

2. Real Account
Dr. - Assets Comes in
Ct. - Assets Goes out

3. Nominal Account
Dr. - All Expenses
Cr. - All Imcomes & Gains

6. Equipment A has a cost of Rs.75,000 and net cash flow of Rs.20000 per year for six years. A substitute equipment B would cost Rs.50,000 and generate net cash flow of Rs.14,000 per year for six years. The required rate of return of both equipments is 11 per cent. Calculate the IRR and NPV for the equipments. Which equipment should be accepted and why?

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