what is basic accounts rule?
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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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