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Answer Posted / vipin kumar rustagi
FUNDAMENRALS OF ACCOUNTING : VERY IMPORTANT IS DEBIT &
CREDIT.
THERE IS THREE TYPES
1.PERSONAL A/C, 2. NOMINAL A/C, 3. REAL A/C.
IN PERSONAL A/C :(DEBIT THE RECEIVER
CREDIT THE GIVER).
NOMINAL A/C: (DEBIT ALL EXPENDITURE
CREDIT ALL INCOMES).
REAL A/C:(WHAT COMES IN
WHAT GOES OUT).
FINALLY WE GOT THAT DEBIT & CREDIT IS MAIN FUNDAMENTAL OF
ACCOUNTING.
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