principles of accounts
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Answer / shiv
There are 3 principles in accounts
Real Account - Dr what comes in and credit what goes out
Nominal Account - Dr all expenses and losses and credit all
incomes and gains
Personal Account: Dr the receiver of the benefit and credit
the giver of the benefit
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / jay
accounting principles are divided in two 1)accounting
concepts 2)accounting convensions
in accounting concepts going concern concepts,balancesheet
concepts,cost concepts,money mesurement concepts,accountin
concepts,entity concepts ETC.
accounting convensions are convension of
convertism,convension of consistance, convension of
materiality, convension of disclousers.
| Is This Answer Correct ? | 9 Yes | 3 No |
Answer / prasad deshmukh
1)going concere
2)materiality
3)consistency
4)money measurment
5)proudence
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / srikanth
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 incomes and gains
| Is This Answer Correct ? | 3 Yes | 0 No |
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Audit 
