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What are the 3 Basic Rules in Accounting.
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Answer Posted / smriti arora
For these rules all the accounting transactions are divided
into three accounts: Real, Nominal and Personal. And the
rule says:
Real Account:
Debit what comes in
Credit what goes out
Personal Account:
Debit the reciever
Credit the giver
Nominal Account:
Debit all expenses and losses
Credit all incomes and gains
| Is This Answer Correct ? | 120 Yes | 16 No |
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