Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...

what is the golden principles of accountin

Answer Posted / praveen chowdary

personal account;
debit the receiver and credit the giver.

real account;
debit what comes in and credit what goes out.

nominal account;
debit all expences and losses, credit all incomes and gains

Is This Answer Correct ?    8 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

How to prepare finalization accounts?

1299


What is computerized accounting?

1040


In india i did MA BE.d but now i am applying for student visa in australia in masters of professional accounting will i face any problem in interview call that why u change ur course how i ill support my answer

1856


what is the manual procedure for accounting

1875


What is fbt (fringe benefit tax)?

1114


What is meant by partitioning?

1214


For example for formation of a new company/offshore company you need to show paid up capital of 100K but you don't have 100K you as a director borrow loan of 100K from 3rd party and deposit in the bank as paid up capital and issued shares of 100K in director name. After one week you return back 3rd part loan. What are the entries in the books?

1766


which subsidiary book is source of these:debit note,credit slip,

1996


What is meant by balancing?

1082


Why we debit expenses and credit incomes ?

1763


How the Entry passed for Loss of Payment

2054


Our is a banking Activity, one person is supplying printing advertisement sheet of our product, whether he is liable to deducte TDS @ 1%

1769


What is recording damage inventory in books of account?

1033


is there is mentioned that we can adjust excess debtors with creditor in the stock statement while calculating Drawing Power

1633


Account for letter of credit in the books?

1108