Interested to Buy Any Domain ? << Click Here >> for more details...
What are the golden principles of accounting? Give an
example for each.
- 3 Answers
- 14569 Views
- I also Faced
- E-Mail Answers
Answer Posted / jubeda
THERE ARE THREE GOLDEN PRINCIPLES OF ACCOUNTING
PERSONAL A/C - DEBIT THE RECEIVER
CREDIT THE GIVER
EG: NAME OF A COMPANY/FIRM/PERSON/ETC.
REAL A/C - DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
EG: EXPENSES/ASSETS/CASH/ETC.
NOMINAL A/C - DEBIT ALL EXPENSES/LOSSES
CREDIT ALL INCOMES/GAINS
EG: EXPENSES/INCOMES/INTEREST/COMMISSION/SALARY/ETC.
| Is This Answer Correct ? | 36 Yes | 1 No |
Post New Answer View All Answers
What are the AP accounting entries for EXPENSE ITEM VS Inventory Item in oracle ERP
i got a case study in which theie is a chemical company group which has 12 companies in all, few in Europe and few in USA, my question is should i have only 2 COA as per the standard like US GAAP and IFRS or should i have COA based on country location.
Explain what makes a successful account manager?
what's the mean by Imprest system? Please give me Replay on this no. 9885789716
In accounting, how do you define the premises?
IF ONE SUB CONTRACTOR GIVE US BILL OF RS.120000 FOR APRIL,RS.110000 FOR MAY & RS.180000 FOR JUNE WITH LABOUR CHARGES INCLUDING VAT @12.5%.HOW MUCH AMOUNT SHOULD WE DEDUCTED AS A WCT TAX?
In which book we can learn in detail of closing stock valuation. And if any site is available kindly help.
Hai Experts can any one send me some finance interview questions ,my mail id is c.sujatha2008@gmail.com,please send quickly it's so need.
IN VAT INVOICES DISCOUNT ALLOWED OR NOT
how to assign the cost center to GL Account in SAP (FICO)
What is general ledger account?
what s account
Compare financial accounting and cost accounting.
where to show Preliminary expenses except "Statement of changes in working capital" in Fund flow statement?
Describe me accounting rules
