Golden rules of accounting
Answer Posted / sirajudeen t
GOLDEN RULES OF ACCOUNTING:
I. PERSONAL ACCOUNT:
i. DEBIT THE RECEIVER
ii. CREDIT THE GIVER
II. IMPERSONAL ACCOUNT
1.REAL ACCOUNT:
i. DEBIT WHAT COMES IN
ii. CREDIT WHAT GOES OUT
2. NOMINAL ACCOUNT:
i. DEBIT ALL EXPENSES AND LOSSES
ii. CREDIT ALL INCOMES AND GAINS
| Is This Answer Correct ? | 24 Yes | 5 No |
Post New Answer View All Answers
What problems might be encountered if there were no accounting standards?
You configured new assets accounting for your company code with three depreciation areas that post in real time. When posting an external acquisition. How many documents are created?( any 1 answer) 2 3 4 6
EXPAND___________IMA
cany anyone explaing what are the functions of an Account Officer/Manager?
EXPAND___________LNG
how to prepare mba finance for interview questions
What is Split And buy-back?
whether financing to Bulk Milk Coolers comes under CMA under Agriculture or Non Farm Sector
how to solved the shares qusionas ?
Short Answer on ___________Cash Profit
I am Lavanya i have been selected in HR round in HP INVENT and i have Operation round as next round may i know what will they ask here and after this what is the next round?????
You been asked to prepare a training class for completing expense statements. What points will you emphasize to insure accurate expense statements are submitted?
Expand-------CAN
Expand--------TAO
Debit Note & Credit Note?