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"What is the golden rules of accounting"

Answer Posted / raja

Accounting Rules are Classified in to two
Personal Account and Impersonal Account and again Impersonal
account classified in to two Real Account and Nominal Account

Personal A/c :- Debit the Receiver
Credit The Giver

Real Account :- Debit What Comes in
Credit What Goes out

Nominal Account :- Debit All Expenses and Losses
Credit All Income and Revenues

Is This Answer Correct ?    38 Yes 2 No



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