Golden rules of accounting
- 369 Answers
- 646976 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 / ritu gupta
there are 3 golden rules of accounting.
these are-
1- Personal Account - Debit the Receiver
Credit the Giver
2- Real Account- Debit what comes in
Credit what goes out
3- Nominal account - Debit all expenses and losses
Credit all income and gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / faisal khan
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 ? | 0 Yes | 0 No |
Answer / ganesh
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 ? | 0 Yes | 0 No |
Answer / vinod
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 gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / brajendra mog
Now, this type easily calculation
When the digit calculate as,
6+3=9, but generally another type has been done.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sunil kumar
Hi,
We have three types of Accounts 1>pesrsonal A/c(name :ex
sunil,anil)2> realaccount(goods & services )3> Nominal A/c
(Commisions,discounts,salary etc..)
Personal account:Debit what comes in, Credit what goes out.
Real account :Debit the reciever while Credit the giver.
Nominal account :Debit all expences and losses, Credit all
incomes and gains.
| Is This Answer Correct ? | 5 Yes | 6 No |
Answer / s.dinesh
Personal account : Debit the receiver,
Credit the giver.
Real Account : Debit what coming in
Credit what going out.
Nominal Account : Debit all expenses and losses
Credit all Incomes and gains
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / pravind kumar
These are most important the golden rules of accounts.
Personal Account Rule:
Debit the receiver
Credit the giver
Real Account Rule:
Debit what comes in
Credit what goes out
Nominal Account Rule:
Debit all expenses and losses
Credit all incomes and gains
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / mayur maharaj
personal a/c dr. the receiver cr the giver real a/c dr
whats comes in cr whats goes out
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / sandeep
personal account : dr the receiver
cr the giver.
Real account : dr what comes in
cr what goes out
Nominal account : dr all expencess and loss
cr all incomes and gains
| Is This Answer Correct ? | 0 Yes | 1 No |
what do you mean by accounting (or) why accounting ? ( generally we have to speak about our achivements and goals)
What steps to be taken at the time of implementation of Oracle ERP and please give the chart of accounts and links to be given
Expand S E
what are responsibilities of an accountant in a company?
what is day book and how it is different from ledger
fresher how to attend the interview. what to know?
what is depriciation
expand C T O
expand T R P
Expand C C A
what are accounting principles
write about accounting concepts, & explain in detail
Audit 
