what are the golden principle of accounting?

Answer Posted / anjali

1. Real A/C - Debit what comes in and Credit what goes out

2. Personal A/C - Debit the receiver and Credit the giver

3. Nominal A/C - Debit all expenses and losses, Credit all incomes and gains.

Is This Answer Correct ?    5 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What is mamimum rate of CST applicable on Plastic Doors in NOIDA?

1612


i want to know the TDS deduction Chart for 2008/09 Eg : professional fee ,contractors ,subcontroctors. rent . ............

1996


If someone knows about the test pattern of Junior executive accounts than please share.

1692


service tax form no ? What is CC Limit ? What is branch accounts?

1707


what is the meaning of input vat & out put vat?

3530






how will you create the posting periods 3 and 5 or 5and 7?

1636


How shall I calculate the true profit of my business, as I am a layman for accounting.

1549


we are in contraction business, we purchase raw material and paid tax on related material, suppose we want to bill to our party in WCT?

1620


what is Exposure ?

1507


plz send me a solved paper on SBI of clerk post

1831


What will be entry pass in tally if TDS paid by Credit Card.?

1587


what is joint venture?

1659


please explain the uses of internate protocol address(ip add)?

1689


What is Accommodation Bill

1873


Expand-------MUR

1635