What are the golder rules of Accounts ?
Answer Posted / khazi raza mohammed
There are 3 golden rules in Accounting..
1. Personal accounts:-
Debit the receiver.
Credit the giver.
2. Real accounts:-
Debit what comes in.
Credit what goes out.
3. Nominal accounts:-
Debit all expenses and losses.
Credit all incomes and gains.
Is This Answer Correct ? | 4 Yes | 0 No |
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