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what are the golden rule of accounting.
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Answer / meta
increase
asset -debit
liability -credit
owner's equity -credit
revenue -credit
expense -debit
decrease=opposite
| Is This Answer Correct ? | 10 Yes | 6 No |
Answer / sourav dey
Accounting have three golden rule.
1. personal account
a)debit is always receiver
b)credit is always giver.
2. Real account
a)what comes in debit.
b)what goes out credit.
3. Nominal account
a)all expenses and loss debit.
b)all gain and income credit
| Is This Answer Correct ? | 7 Yes | 4 No |
Answer / sikkam rathee
Three Golden Rule Of Accounting :
PERSINAL A/C--
Dr. the Reciver
Cr. the payer
REAL A/C --
Dr. what comes IN
Cr. What goes OUT
NOMINAL A/C--
Dr. All Expanses
Cr. all gain & Income
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / nuroollah789
3 golden rule of a/c=
(Personal A/c)-Dabit the
receiver,credit the giver,
2)Real a/c=Dabit what
comes in,Credit what goes
out.
3)Nominal a/c=Dabit all
expenses and losses,Credit
all incomes and gains.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / kech
In every Debit entry,There must be a corresponding Credit entry!
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / vikram singh matiyani
Accounting have three golden rule.
1. personal account
a)credit is always giver.
b)debit is always receiver
2. Real account
a)what goes out credit.
b)what comes in debit.
3. Nominal account
a)all expenses and loss debit.
b)all gain and income credit
| Is This Answer Correct ? | 1 Yes | 3 No |
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