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What are the 3 Basic Rules in Accounting.

Answer Posted / nitesh

Basic Rule of accounting also called the three golden rule
of accounting.these are followings-

1.Personal Account: means related to individual
Debit the Receiver
Credit the Giver
2. Real Account:means that we can see or touch
Debit What comes in
Credit What goes out
3.Nominal Account: which we can not see or touch
Debit all expenses and losses
Credit all incomes and gains

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