What are accounting Principles?
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Answer Posted / lakshmi
1.personal a/c:
Debit is receiver
credit is giver
ex: Rama received 10000
2.real a/c:
debit what comes in
credit what goes out
ex:computer purchased 20000
3.nominal a/c:
debit all expencess and losses
credit all income's and gains
ex:salaries paid,rent received
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