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what is basic accounts rule?

Answer Posted / ganesh.s

i) Personal A/c.

Debit-The Receiver

AND

Credit- The Giver.

ii) Real A/c.

Debit- What comes in

AND

Credit -What goes out.

iii) Nominal A/c

Debit - All expenses and Losses

AND

Credit - All Incomes and Gains.

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