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what is the golden rules of accounting?
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Answer Posted / n.srinivas
the personal and impersonal accounts are called golden rules
of accounting.
personal account: Dr the receiver
Cr the giver
impersonal accounts are 1)real account 2)nominal accounts
real account : DR what comes in.
CR what goes out.
nominal account: DR all expenses and losses.
CR all incomes and gains.
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