principles of accounts

Question Posted / ajaykumar

4 Answers
7292 Views
I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

principles of accounts..

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

principles of accounts..

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

principles of accounts..

Answer / prasad deshmukh

1)going concere
2)materiality
3)consistency
4)money measurment
5)proudence

Is This Answer Correct ?

5 Yes

2 No

principles of accounts..

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

Post New Answer

More Accounting AllOther Interview Questions

Bank Charges (FIRC CHARGES) what the meaning of FIRC Charges?

6 Answers ING,

what is market captilization?

4 Answers FactSet Systems,

Explain the setup steps for Autoinvoice?

1 Answers Airtel, Morepen,

Expand ------FCC