what are the basic 3 rules of accounting
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Answer / mahi
The three rules of Accounting are ,
Personal -Dr the receiver, cr the giver.
Real- Dr wat comes in, cr wat goes our.
Nominal - Dr all expenses and losses, cr all incomes and
gains
| Is This Answer Correct ? | 66 Yes | 3 No |
Answer / kedar
THERE ARE THREE GOLDEN RULES IN ACCOUNTS,ON THIS THREE BASE
RULE BLDG OF ACCOUNTING IS CONSTURCTED
PERSONAL A/C:DEBIT THE RECEIVER
CREDIT THE GIVER
REAL A/C:DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL A/C:DEBIT ALL EXP & LOSES
CREDIT ALL INCOME & GAINS
ALL THESE ARE FROM BUSINESS POINT OF VIEW
| Is This Answer Correct ? | 14 Yes | 0 No |
the three rules of accounting are
Personal accounts-debitthe receiver from the business
credit the giver to the business
real accounts-debit what comes into the business credit -
what goes out of the business
nominal accounts-debitall expenses and losses of the
business credit-allincomea and gains of the business we
must use business related things for clarity
| Is This Answer Correct ? | 9 Yes | 2 No |
Answer / arvind
There are two types of accounts
1. personal accounts: DR-the Rec,
CR-the giver.
2. Impersonal accounts.
2.1 Real A/C: DR-what comes in,
CR- what goes out.
2.2 Nominal A/C:DR- All expenses & losses,
CR- All gains& incomes.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / satyaki_raju@yahoo.com
Raj mohd saab
Because of you the golden rules of accountancy lost its
gold shine
Dont be hasty in answering any question
according to you giver became debtor and receiver became
creditor
| Is This Answer Correct ? | 2 Yes | 2 No |
The acconts is followed the three steps or three types.
1. Personnal Account
2. Real Account
3. Nominal Account
Personaal Account is
giver is debit
Reciver is Credit
Real A/c
What comes in debit
What Goes out CREDIT
Nominal A/c
Expenses in debit
Incomes is Credit
| Is This Answer Correct ? | 5 Yes | 12 No |
Answered but misspelled pl correct PROFIT AND LOSS ACCOUNT HELPS US TO KNOW (ANS.EENTRSULT)
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