Answer Posted / vinotha.v

FUNDAMENRALS OF ACCOUNTING :

1.PERSONAL A/C,
2. NOMINAL A/C,
3. REAL A/C.

PERSONAL A/C :

DEBIT THE RECEIVER
CREDIT THE GIVER.

NOMINAL A/C:

DEBIT ALL EXPENDITURE
CREDIT ALL INCOMES.

REAL A/C:

WHAT COMES IN
WHAT GOES OUT.

SO VERY IMPORTANT POINT DEBIT AND CREDIT.

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