What are the 3 Basic Rules in Accounting.
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Answer Posted / priya
threebasic rules are also known as golden rules of
accounting . we have three types of accounts ie
Personal accounts(natural, artificial,representative)
Rule
Debit the receiver
Credit the giver
Real account(tangible,intangible)
Rule
Debit what comes in
Credit what goes out
Nomial account(which is not included in above a/c)
Rule
Debit all expenses and losses
Credit all incomes and gains
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