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What are the 3 Basic Rules in Accounting.

Answer Posted / mohammed mubasheer ali khan

Golden rules of accounting
1)personal a/c
2)nominal a/c
3)real a/c

PERSONAL A/C: debit is the receiver
credit is the giver


real a/c:What comes in ------ Dr
What goes out----- Cr

nominal a/c :All expenses and losses--Dr
All income and gains-------Cr

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