What are accounting Principles?
- 152 Answers
- 296539 Views
- Accounting, Banking, Eskom, EXL, Finance, Fluor Daniel, Genpact, HSBC, IBM, Infosys, JPMorgan Chase, State Bank Of India SBI, Syntel, Vibha Seeds, Wipro, Wrox, I also Faced
- E-Mail Answers
Answer Posted / nilesh dapke
There are 3 accounting principle
Real account:debit what comes in and credit what goes out
Eg: machinery a/c dr
To cash a/c
(Being machinery purchased by cash)
purchases a/c dr
To cash a/c
Nominal account:debit all expenses credit all incomes
Eg: salaries a/c dr
To cash a/c
(Being salaries paid by cash)
cash a/c dr
To sales a/c
personal account:debit the receiver and credit the giver
Eg: satish a/c Dr
To cash a/c
(Being cash paid)
cash a/c dr
To shubash a/c
(Being cash received from Ganesh)
| Is This Answer Correct ? | 6 Yes | 1 No |
Post New Answer View All Answers
What do you know NABARD?
what is the difference between Tally ERP 9 and Tally 7.2?
What Would You Consider Important For A Bank Clerk, Being The First Point Of Contact With Customers?
Do you know about NPA?
what is the short cut to select the credit note voucher in Tally ERP 9?
what are the types of ledger you can make in Tally ERP 9?
Why should we give this job to you?
What is Job satisfaction?
Define IPC.
Which banks give preference to nbet candidates?
What is the deportment of RBI monetary policy?
What is FPI?
Which was the first indian bank to set up internet kiosk?
What Is Inter-bank Deposit?
what are your strengths & weekness ?
