What are accounting Principles?
- 152 Answers
- 298077 Views
- Accounting, Banking, Eskom, EXL, Finance, Fluor Daniel, Genpact, HSBC, IBM, Infosys, JPMorgan Chase, State Bank Of India SBI, Syntel, Vibha Seeds, Wipro, Wrox, I also Faced
- E-Mail Answers
Answer Posted / vijaymore
Personal Account:Debit the receiver
Credit the giver
(accounts recording transactions with
person)
Real Account : Debit what comes in
Credit what goes out
(It is relating to tangible things like
goods, cash,Buildings,Bills Receivable)
Nominal Account : Debit expenses and losess
Credit incomes and gains
(It is relate to the losses, gains,
expenses and incomes like rent salaries
Bad debts.....)
| Is This Answer Correct ? | 0 Yes | 2 No |
Post New Answer View All Answers
METHOD TO CLAIM DRAWBACK
What Entry Will Be Passed, if Shares Are Issued at Discount?
Which bank is the settlement bank for cash tree?
What are your opinions on the Greek crisis? What's going on in China?
What are your areas of interest?
What is difference between debit card and credit card?
What is ILO and what are its functions?
What is m-commerce?
Define GAAR and GST.
Define FII? How does it benefit the government?
how inflation rate is calculated in pakistan?
why do u came to EXIM bank?
Why do you want to join the banking sector?
What do you mean by assessment year?
Will Bankruptcy Affect My Credit?
