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What are the 3 Basic Rules in Accounting.
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Answer Posted / rudrakumar
basic rules of accounting are we can divid in 3 types shown
as below,
Personal a/c : Dabit the receiver & credit the giver
For exple : Ramesh A/c Shriram & sons Co a/c
Real A/c : Dabit what comes in and credit What goes out
For Exple : Cash a/c, Furniture a/c,machinery a/c
Nominal A/c : Dabit all expenses and losses & Credit all
Incomes and gains
For Exple : Commision, Rent, taxes, frieght charges.
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