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what is the golden rules of accounting?
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Answer / shankar singh
1. debit what comes in, credit what goes out.
2. debit the receiver, credit the giver.
3. debit all losses & expenses, credit all gains & incomes.
| Is This Answer Correct ? | 63 Yes | 2 No |
the personal and impersonal accounts are called golden rules
of accounting.
personal account: Dr the receiver
Cr the giver
impersonal accounts are 1)real account 2)nominal accounts
real account : DR what comes in.
CR what goes out.
nominal account: DR all expenses and losses.
CR all incomes and gains.
| Is This Answer Correct ? | 24 Yes | 1 No |
Answer / naveen kumar ippili
Real Account : Debit what comes in
Credit what goes out
Nominal Account : Debit all expenses and losses
Credit all incomes and gains
Personal Account : Debit the giver
Credit the received
| Is This Answer Correct ? | 31 Yes | 15 No |
Answer / m.venky
there are 3 main golden rules in accounting. there are
1. personal account: giver is credit
receiver is debit
2. real account: what comes in - debit
what goes out - credit
3. nomincal account: all expences and losses - debit
all incomes and gains - credit
| Is This Answer Correct ? | 8 Yes | 2 No |
Answer / himanshu
there are mainly three rules which we called them golden
rules of accounts
1. Debit the debtor and credit the creditor
2. Debit what comes in and credit what goes out
3. Debit all losses and Expenses And Credit all Gain and
profit
| Is This Answer Correct ? | 9 Yes | 4 No |
Answer / manojjain1525
there are three types of accounts and these are called the
the golden rules of accounting -
personal acc - dr. the reciever and cr. the giver
nominal acc - dr. all exps/losses and cr. all incomes/gains
real acc - dr. wht comes in and cr. wht goes out
all above answers are rght but this is golden rule cum
types of accounting both.
manojjain1525@gmail.com
| Is This Answer Correct ? | 3 Yes | 1 No |
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