What are the 3 Basic Rules in Accounting.
Answers were Sorted based on User's Feedback
Answer / ajinath phuke
Personal a/c
Debit the recevier
Credit the giver
Nominal a/c
debit all expences &loss
Credit all incom& gains
Real a/c
debit what come in
Credit what goes out
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / kailasam
Personal A/c
Dr:-"Debit the receiver
cr:-credit the giver"
Real A/c
Dr:-"Debit what comes in"
cr:-"credit what goes out"
Nominal a/c
Dr:-"Debit all expenses and lossess
cr:-credit all incomes and gains"
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mahesha c
1) personal accounts
Debit is the receiver.
Credit is the giver.
2)Real accounts
Debit what comes in.
Credit what goes out.
3)nominal accounts
Debit all expenses & losses.
Credit all income & gains.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sujeet
what type ac in real ac nominal ac personal ac
1 1
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / funny sharma
1+2X0=
1+4+4+4+4+4-2X0-1+4=
0X10+5+5-0+5=
ITS REAL ACCOUNT
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / weldon vel
#ACCOUNTING RULES#
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 / mohammed mubasheer ali khan
Golden rules of accounting
1)personal a/c
2)nominal a/c
3)real a/c
PERSONAL A/C: debit is the receiver
credit is the giver
real a/c:What comes in ------ Dr
What goes out----- Cr
nominal a/c :All expenses and losses--Dr
All income and gains-------Cr
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ruksar khan
1) ASSETS = liabilities + Capital
2) what comes in DR.
what goes out CR.
3) Debit all exp&loss and credit all incomes and gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / abhijeet yadav
1.Real Account
what comes in Dr
what goes out Cr
2.Personal Account
Reciver is Dr
Giver is Cr
3.Nominal Account
All Expenses Dr
All incomes Cr
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / akshata
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 & losses
Cr. all income & gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Why does one need a broker?
What is reserv for doutfull debts and how it was treated?
what is accounting standard?
58 Answers ABC, Accounting, Banking, College School Exams Tests, Genpact, JK Associates, Livewire, TCS, Vijai Electricals, YCH,
Expand I B R D
working capital and variance cost and funds flow and cash flow and gaap and surplus and
What is profit earning ratio?
How does the accounting treatment of a partner's salary differ from that of an employee's salary in a partnership?
Who to create a budget on software company
Expand A O
what are the balancesheet,profit& loss a/c,profit & loss aprrieation a/c format
what is mean by ledger
EXPAND___________MIS