Accounting basic rules with example relevant to day to day
business
- 2 Answers
- 3698 Views
- Wipro, I also Faced
- E-Mail Answers
Answer Posted / ameet narayankhedkar
Accounting is a language: A language that provides
information about the financial position of an organization.
There are three basic rules:
1.Personal 2. Real and 3. Nominal accounts.
1.Personal: Debit the receiver, credit the giver.
2. Real : Debit what comes in and Credit what goes out.
3. Nominal: Debit all expenses and losses and Credit all
incomes and gains.
| Is This Answer Correct ? | 6 Yes | 0 No |
Post New Answer View All Answers
Hi, I am working at Himachal Pradesh, there we pay entry tax for purchase other state. but now govt decide this tax will be deposited with Sale Tax return, now my question is that where column i show this tax or which challn i deposit this tax
What is the difference between provision and reverse?
what is the difference between cash book(cash coloumn) and cash book(bank coloumn)?
What is accrual accounting?
WHETHER WE CAN BOOK ALL PRELIMINARY EXPENSES, INCLUDING ACCESSORIES RELATED TO PURCHASE OF A NEW VEHICLE TO CAPITAL EXPENDITURE?
What is diffrence Between GPF and EPF?.. can anybody explain..?
what is the deference between depreciation explanation
How can you do credit control?
Explain things that fall under intangible asset?
Entry Tax is Central Income or State Income. Which Challan this tax deposited ? In Sale Tax Return which column is shown this tax
salary entry with briefly including pf,esi,employee advances -journal entry with against payment entry
saji become insolvant -what is journal entry
Tell me what a deferred asset is and give an example?
Discuss the consistency concept in accounting
payment voucher for advance salary
