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What is the rule of accounting

Answer Posted / mk reddy

there are 3 types of accounts.such as
1.personal account
2.real account
3.nominal account
1.personal account:-- debit is the receiver and credit is the giver.
2.real account:--debit what comes in and credit what goes out
3. nominal account"--debit all expenses and losses and credit all incomes and gains.

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