What is the types of accounts & it's rules ?

Answer Posted / arun

3 Golden Rules
--------------

1)personal account
debit the receiver.
credit the giver.
2)real account
debit what comes in.
credit what goes out.
3)nominal account
debit all expenses and losses,
credit all incomes and gains.

Is This Answer Correct ?    3 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Deposited Rs 25000 in Canara Bank of ABC co towards dealership deposit thru our SBH Bank Pass necessary entry

1754


1.What are the basic accounting Standards ?? 2.What is the main importance of Bank Reconcilation Statement? 3. What is Form 407 in Vat ??

1640


plz send me hsbs finance questions asked in the interview ans appitude also

2108


What is Risk Assessment?

1525


Hello to every body ... Its not its not a interview question In accounting field can we make Money ?

1467






What do you mean by Adjustment

1447


What is miscellaneous expense and when it is used

1677


am attend to bank exam(iob)pls send model questions

1627


Short Answer on ________Accounts Payables

1513


how many types of financial teribuanal? what is that?

1535


What do you mean by custodian/Depository, & what are the different types of Depository? (NSDL/CDSL)

3868


what is the system of accounting and banking in cooperative bank?

2998


Expand--------OTA

1705


what is balance sheet, capital budgeting, financial statements, current ratio, profit maximization?

1795


What is the Memorandum voucher?

9957