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What are the 3 Basic Rules in Accounting.
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Answer Posted / anuj shah
There are two types of accounts
1. Personal Account
2. Impersonal Account
1.Personal Account
Dr, the receiver
cr, the Giver
2.Impersonal account can be devided in to two groups:
2.1.Nominal A/C,
2.2.Real A/C
2.1 Nominal Account
Dr. all exp. & losses
Cr. all Income & Gain
2.2.Real Account
Dr. what comes in
cr. What goes out
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