Golden rules of accounting
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Answer Posted / more akshay dhondu
Personal Account:- Dedit the receiver
credi the giver
(Personal Account means any person name, body)
Real Account:- Debit what comes in
Credit what goes out
(Real Account means Bank)
Nominal Account:- Debit all expenses & losses
Credit all incomes & gains.
(nominal Account means any transaction that is show in dr
side for p & l a/c. Income shows on Cr. side for P&L A/C.)
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