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Answer Posted / m.shailaja
They are 3 golden rules of accounting
1.Norminal Account
Rule: Debit what comes in
credit what goes out
2.Real Account
Rule: Debit all expenditure and Loss
Credit all Incomes and gains
3.Personel Account
Rule: Debit the receiver
Credit the giver
| Is This Answer Correct ? | 20 Yes | 16 No |
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