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Golden rules of accounting
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Answer Posted / tirumal
For the accounts purpose the accounts are mainly divided
into three heads of the accounts, below are the list of the
accounts and correspoding rules
1.Personal accout:
Debit : The receiver
Credit : The giver
2. Real Account:
Debit : What comes in
Credit : What goes out
3. Nominal Account
Debit : all expenses and losses
Credit : All incomes and gains
| Is This Answer Correct ? | 6 Yes | 0 No |
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