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Golden rules of accounting
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Answer Posted / chalapathi rao govada
Personal A/C - Debit the receiver of benifit
Credit the Giver of benifit
Real A/C - Debit the Asset comes in the organisation
Credit the Asset goes out of organisation
Nominal A/C - Debit all expenses and losses
Credit all revenues and profits.
All the above Golden rules of accounting known as
principles of Accountancy as invented of fa-Luca-Faciolo
(the father of Accountancy who invented the double entry
system).
| Is This Answer Correct ? | 10 Yes | 4 No |
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