What are accounting Principles?
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Answer Posted / p.philemon babu
ACCOUNTING PRINCIPLES:
(1)PERSONAL ACCOUNT:DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
(2)REAL ACCOUNT:DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
(3)NOMINAL ACCOUNT:DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL PROFIT AND GAINS
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