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What is the 3 basic rules in accounting by account?
What is the 3 type in basic rules?
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Answer / daniel job
Personal Rule - Debit the receiver - Credit the giver
Real Rule - Debit what comes in - credit what goes out
Nominal Rule - Debit the Expenses and losses - Credit the
income and gains.
| Is This Answer Correct ? | 10 Yes | 1 No |
Answer / abhishek srivastava
1.Debit what comes in
Credit what goes out.
2.Debit the reciver
Credit the giver
3.Debit all expenses and loses
credit all gains and income
| Is This Answer Correct ? | 9 Yes | 1 No |
Answer / yogesh shinde
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 gains and incomes
Examples Respectivesly:
1. Bank,Mr.Yogesh, Bajaj co.ltd,hospitals,etc.
2. Furniture, Machinary, Building, cash etc.
3. Dividend,commision , interst etc.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / guest
There are 3 types of accounts namely
1.Personal account
2.Nominal account
3.Real account
Rule for personal account
*debit the receiver
*credit the giver
Rule for nominal account
*debit all expenses & losses
*credit all incomes &gains
Rule for real acount
*debit what comes in
*credit what goes out
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / s.s.nageswara rao
As per double entry system of accounting three golden rules
are there. which are:-
Debit Credit rule for Personal Accounts:
*Debit the Receiver
*Credit the Giver
Debit credit rule for Real Accounts:
*Debit what comes in
*Credit what goes out
Debit credit rule for Nominal Accounts:
*Debit all Expenses and Losses
*Credit all Incomes and Gains
| Is This Answer Correct ? | 1 Yes | 0 No |
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