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Question :
What are the golden rules of accounting?
Category CA Interview Questions
Rating (3.4) By 31 users
Added on 12/20/2014
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Answers:

Real Account : Debit what comes in
Credit what goes out

Nominal Account : Debit all expenses and losses
Credit all incomes and gains

Personal Account : Debit the giver
Credit the received



Real Account : Debit what comes in
Credit what goes out

Nominal Account : Debit all expenses and losses
Credit all incomes and gains

Personal Account : Debit the Receiver
Credit the giver



Posted by: Kavitha H B

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Real account- Debit what comes in Credit what goes out
Personal account-Debit the receiver and Credit the giver
Nominal Account- Debit all expenses and lossed Crdite all incomes ang gains..



Posted by: Palaksha.s

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This is the bascial principle ofAccounts. Accounts are classified in to 3 catergories Namely 1. Personal A/c- Debit the receiver and credit the giver. Eg:Bank A/c.
2.Real Account- debit what comes in and credit what goes out. Eg. cash.
3.Nominal Account - Debit all expenses & losses. credit all income & gains. Eg. salary, commission received.



Posted by: V.SUNDER

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Debit the receiver and Credit the giver



Posted by: k.Ganeshwari

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there are 3 golden rules in accounting.
personal a/c: dr. the receiver and cr. the giver.
real a/c: dr. what comes in and cr. what goes out.
nominal a/c: dr. all expenses and losses and cr. all incomes and gains.



Posted by: hyndavi

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Golden rules of Accounts,

1. Personal A/c: Debit the receiver
Credit the giver
2. Real A/c: Debit what comes In
Credit what goes out
3. Nominal A/c: Debit all expenses and loses
Credit: All incomes and Gains



Posted by: Khazi Raza Mohammed

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