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what is three accounting rule?

Answer Posted / sumancwa

These 3 principles are called Golden Principles of Accounting.
1. PERSONAL ACCOUNT:
Debit the Receiver and Credit the Giver.
2. REAL ACCOUNT:
Debit what come In and Credit What Goes Out.
3. NOMINAL ACCOUNT:
Debit the Expenses and Losses and Credit the Gains
and Profits

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