What are the golder rules of Accounts ?




Answers were Sorted based on User's Feedback



Answer / dpbiswal

RULE 1 : Debit the Receiver, Credit the Giver.

RULE 2 : Debit what comes in, Credit whatgoes out.

RULE 3 : Debit all expenses & losses,
Credit all incomes & gains.

Is This Answer Correct ?    360 Yes 15 No

Answer / xyz

PERSONAL A/C:Debit the receiver,credit the giver
IMPERSONAL A/C:
1-REAL A/C:Debit what comes in,credit what goes out
2-NOMINAL A/C:Debit all expenses and losses and credit all
incomes and gains.

Is This Answer Correct ?    138 Yes 12 No

Answer / ashish

Rule 1 : Debit what Comes in Credit Wat Goes out
Rule 2 : Debit the reciever, Credit the giver
Rule 3 : Debit all expenses, losses and assets credit all
incomes, gains and liabilities

Is This Answer Correct ?    145 Yes 40 No




Answer / deepak

Actually, in whole world there are only 3 accounts
that is
1 Personal A/c : are those acs which are related to person

2 Real A/c: which are related things which we can touch,
see, but it doesnt have life eg: cash, car, bank, mobile

3 Nomainal A/c: which are those which we cannot see, but
we can feel but doesnt have life eg: commission,
discount,salary, rent etc.

for this there are rules which is called as golden rules of
accounts

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 and losses
credit all incomes and gains

Is This Answer Correct ?    105 Yes 7 No

Answer / ravi agarwal

1. Debit the receiver, and credit the giver.
2. Debit what comes in, and credit what goes out.
3. Debit all expenses, and losses and
credit all incomes, and gains.

Is This Answer Correct ?    51 Yes 7 No

Answer / ashwin barad

Answer is as under.

R1 Personal : Debit the receiver, and credit the giver.
R2 Real : Debit what comes in, and credit what goes out.
R3 Nominal : Debit all expenses, and losses and
credit all incomes, and gains.

Is This Answer Correct ?    48 Yes 6 No

Answer / arun

it also known as thumb rules of accounts
1.personal accounts
Debit the receiver
credit the giver
2.Real accounts
debit what comes in
credit what goes out
3.Nominal accounts
debit the expenses and losses
credit the income and gain

Is This Answer Correct ?    40 Yes 1 No

Answer / chhaya chouhan

There are 3 types of accounts:
1.Personal a/c
2.Real a/c
3.Nominal a/c

Rules for these accounts are as follows:
1.For Personal a/c:
Debit: The reciever
Credit:The Giver

2.For Real a/c:
Debit: What comes in
Credit:What goes out

3.For Nominal a/c:
Debit: All expenses and losses
Credit:All incomes and gains...

These are the most important and in other words the golden
rules of accounts...

Is This Answer Correct ?    32 Yes 1 No

Answer / raja

R1 Personal : Debit the receiver, and credit the giver.
R2 Real : Debit what comes in, and credit what goes out.
R3 Nominal : Debit all expenses, and losses and
credit all incomes, and gains.

Is This Answer Correct ?    27 Yes 0 No

Answer / rajesh

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 and losses
credit all incomes and gains

Is This Answer Correct ?    25 Yes 0 No

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