Interested to Buy Any Domain ? << Click Here >> for more details...
Golden rules of accounting
- 369 Answers
- 724057 Views
- Accenture, Accounting, Ajuba, Birla Tyres, Chartered Accountant, Flextronics, Genpact, Hewitt, HP, Intel, JPMorgan Chase, Northern Transport, Oracle, Scope International, TCS, TransWorld, UCO Bank, WNS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / vinod chandila
THE THREE GOLDEN RULES OF ACCOUNTING.
1.PERSONNEL ACCOUNTS-DEBIT THE RECEIVER AND CREDIT THE GIVER.
2.REAL ACCOUNTS-DEBIT WHAT COMES IN AND CREDIT WHAT GOES OUT.
3.NOMINAL ACCOUNTS-DEBIT ALL THE EXPENSES AND LOSSES AND
CREDIT ALL THE INCOME AND GAINS.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / kashif raza khan
REAL ACCOUNTS = DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL ACCOUNTS = DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES
PERSONAL ACCOUNTS = DEBIT THE GIVER
CREDIT THE RECEIVER
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / more akshay dhondu
Personal Account:- Dedit the receiver
credi the giver
(Personal Account means any person name, body)
Real Account:- Debit what comes in
Credit what goes out
(Real Account means Bank)
Nominal Account:- Debit all expenses & losses
Credit all incomes & gains.
(nominal Account means any transaction that is show in dr
side for p & l a/c. Income shows on Cr. side for P&L A/C.)
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / natheeshram
REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES
PERSONAL ACCOUNTS DEBIT THE RECEIVER
CREDIT THE GIVER
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / sandeep raj giri
Personal Account Debit the Receiver
Credit the Giver
Real Account Debit What Comes In
Credit What Goes Out
Nominal Account Debit all Expenses and Losses
Credit all Incomes and Gain
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / ramkumar
Personnel account ioncludes all ledger accounts of
individuals HUF company firm etc... E.g Ram's a/c sham and
co ABC comp-any limited etc....
Real A/c includes all assets and liabilities a/c.. Eg cash
a/c bank a/c fixed assets current liabilities....
Nominal A/c includes all direct and indirect incomes and
expenses a/c e.g salary a/c commission a/c rent a/c etc...
Debit all expenses and losses
credit all incomes and gains
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / narendra chandpure
Personel a/c : Debit the receiver
Credit the giver
Real a/c : What comes in Debit
What goes out Credit
Nominal a/c : Debit all Loss and Expenses
Credit all Incomes and gains.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / dheerandra singh thakur
personal :-debit the receiver , credit the giver
real :-whats come in debit , whats goes out credit
nominal :-all expence/loss debit ,all income/gain credit
| Is This Answer Correct ? | 1 Yes | 0 No |
what are the financial ratios that a manager see in accounting?
What is enty in Tally of newly capital brought to start business?
What is Accounting on Computers
Explain howyou would account for the following items/situations,justifying answers by reference to the conceptual frameworks defintion and rcognition criteria. a)A trinket of sentimental value only b)You are the guarantor for your friends bank loan i) You have no reason to belive that your friend will default on the loan ii) As your friend is in serious financial dificulties,you think it is likely that he will default on the loan c)You receive 1000 shares in X Ltd,trading at $4 each,as a gift from a grateful client. d)The panoramic view of the coast from your cafes windows,which you are convinced attracts customers to your cafe
Expand---------MRTD
How should you treat money donated to improve a building, which is a permanent endowment?
What is Contingent Liabilities?
what do you mean by semi-variable cost?
what is the three basic rules of accounting?
what is difference between revenue and capital?give me example?
my qustion is what is H foam and where use
cany anyone explaing what are the functions of an Account Officer/Manager?
Audit 
