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What are accounting Principles?
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Answer Posted / vikash kr. sharma.
1. from assets poin of view:
if assets increase : debit.
if assets decrease : credit.
2. from expen./losses point of voiew:
if expenses increase : debit.
if expenses decrease : credit.
3. from liability point of view:
if liability increase : debit.
if liability decrease : credit.
4. from income point of view:
if income increase : debit.
if income decrease : credit.
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