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What are the 3 Basic Rules in Accounting.
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Answer / suhasini modagi
According to me whatever answer posted above is not correct
because, they have highlighted basic principals of
accounting and not rules of accounting.
total assests: Liab+Capital
Total Liab: Capital -Assests
Capital: Equity+liab(Borrowed Capital)
| Is This Answer Correct ? | 175 Yes | 65 No |
Answer / smriti arora
For these rules all the accounting transactions are divided
into three accounts: Real, Nominal and Personal. And the
rule says:
Real Account:
Debit what comes in
Credit what goes out
Personal Account:
Debit the reciever
Credit the giver
Nominal Account:
Debit all expenses and losses
Credit all incomes and gains
| Is This Answer Correct ? | 120 Yes | 16 No |
Answer / mahesh kumar
1.Real Account
what comes in Dr
what goes out Cr
2.Personal Account
The Reciver Dr
Giver Cr
3.Nominal Account
All Expenses Dr
All incomes Cr
| Is This Answer Correct ? | 114 Yes | 20 No |
Answer / pramod adhikary
There are two kinds of accounts: 1. Personal Account, and
2. Impersonal Account
1. Personal A/C Dr. the Receiver, Cr. the giver
2. Impersonal account can be devided in to two groups: 1.
Nominal A/C, 2. Real A/C
2.1. Nominal A/C : All expenses and losses Dr., and all
income and gains Cr.
2.2. Real A/C: Dr. what goes out, Cr. what comes in
| Is This Answer Correct ? | 106 Yes | 29 No |
Answer / nagesh
what is the mean of INPUT &OUTPUT TAX ,
and what is the mean of INPUT & OUT PUT VAT
| Is This Answer Correct ? | 107 Yes | 41 No |
Answer / nitesh
Basic Rule of accounting also called the three golden rule
of accounting.these are followings-
1.Personal Account: means related to individual
Debit the Receiver
Credit the Giver
2. Real Account:means that we can see or touch
Debit What comes in
Credit What goes out
3.Nominal Account: which we can not see or touch
Debit all expenses and losses
Credit all incomes and gains
| Is This Answer Correct ? | 40 Yes | 4 No |
Answer / n.kalavathi
1.Personal A/c:
1.Debit the receiver
2.Credit the giver.
2.Real A/c:
1.Debit what comes in
2.Credit what goes out.
3.Norminal A/c:
1.Debit all expenses and loss
2.Credit all incomes and gains.
| Is This Answer Correct ? | 34 Yes | 1 No |
Answer / m.neeraja
personal a/c: D.R the receiver
c.r the giver
Real a/c : d.r what comes in
c.r what goes out
nominal a/c : d.r all expenses&losses
c.r all incomes & gains.
| Is This Answer Correct ? | 27 Yes | 1 No |
1.total asset = total of liability(including owners equity)
2. total of liability = total of asset-owners equity
3. total owners equity= total of assets - total of
liabilities.
| Is This Answer Correct ? | 27 Yes | 4 No |
Answer / rakesh
#1 Personal A/C
Debit the receiver
Credit the giver
#2 Real A/C
Debit what comes in
Credit what goes out
#3 Nominal A/c
Debit all the Exp. & losses
Credit all the income & gains
| Is This Answer Correct ? | 22 Yes | 1 No |
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