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What is the difference between debit and credit?
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Answer Posted / anuradha singla
According to three golden rules of accounting:
1.Personal account: Debit the receiver
Credit the giver
2.Real account: Debit what comes in
Credit what goes out
3.Nominal account: Debit all expenses and losses
Credit all incomes and gains
| Is This Answer Correct ? | 11 Yes | 3 No |
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