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  • INTERVIEW QUESTIONS COMMERCE CA DETAILS
    Question :
    What are the golden rules of accounting?
    Category CA Interview Questions
    Rating (0.3) By 3025 users
    Added on 12/20/2009
    Views 2164
    Rate it!
    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    

    Contact Kavitha H B Contact Kavitha H B

    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    

    Contact Palaksha.s Contact Palaksha.s

    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    

    Contact V.SUNDER Contact V.SUNDER

    Debit the receiver and Credit the giver



    Posted by: k.Ganeshwari    

    Contact k.Ganeshwari Contact k.Ganeshwari

    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    

    Contact hyndavi Contact hyndavi

    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    

    Contact Khazi Raza Mohammed Contact Khazi Raza Mohammed

    ddggrhrh



    Posted by: yytry    

    Contact yytry Contact yytry

    There are Three Types of ACCOUNTS

    1)REAL ACCOUNTS
    Debit: The Receiver
    Credit: The Giver

    2)PERSONAL ACCOUNTS
    Debit:What Comes in
    Credit:What Goes out

    3)NOMINAL ACCOUNTS
    Debit:all Expenses and Lose
    Credit: all Incomes and Revenues

    This is called GOLDEN RULE of ACCOUNTS.



    Posted by: Manikandan V    

    Contact Manikandan V Contact Manikandan V

    Accounts are classified in to 3 catagories and they are:-
    1.Real Account
    2.Personal account
    3.Nominal Account
    Rules for Real Account:Debit what comes in and credit what goes out
    Rules for Personal Account: Debit the receiver and credit the giver
    Rules for Nominal Account:Debit all expenses and losses and credit all Incomes and gains



    Posted by: Unnikrishnan    

    Contact Unnikrishnan Contact Unnikrishnan

    Purchase a/c is the real a/c bucause it bal is carried forword in the form of closing stock



    Posted by: Shiv Shivam Pathak (ICA)    

    Contact Shiv Shivam Pathak (ICA) Contact Shiv Shivam Pathak (ICA)

    REAL A/C- Debit What comes in and Credit what goes out
    PERSONAL A/C- Debit the receiver and Credit the giver
    NOMINAL A/C- Debit all expenses &losses and Credit all incomes & gains



    Posted by: juhi     

    Contact juhi Contact juhi

    1)REAL ACCOUNTS
    Debit: The Receiver
    Credit: The Giver

    2)PERSONAL ACCOUNTS
    Debit:What Comes in
    Credit:What Goes out

    3)NOMINAL ACCOUNTS
    Debit:all Expenses and Lose
    Credit: all Incomes and Revenues



    Posted by: mahipal reddy n    

    Contact mahipal reddy n Contact mahipal reddy n

    IN ACCOUNTING BASIC THERE ARE THREE GOLDEN RULES IN ACCOUNTING.
    1.PERSONAL A/C
    2.REAL A/C
    3.NOMINAL A/C

    RULES
    * FOR PERSONAL A/C
    DEBIT THE RECIVER
    CRIDET THE GIVER
    FOR REAL A/C
    * DEBIT WHAT COMES IN
    CREDIT WHAT GOES OUT
    * FOR NOMINAL A/C
    DEBIT ALL EXPENSES AND LOSSES
    CREDIT ALL INCOMES AND GAINS



    Posted by: saroj kumar sahoo    

    Contact saroj kumar sahoo Contact saroj kumar sahoo

    1) Personal A/c- Debit the receiver and credit the giver 2) Real A/c- Debit what comes in and cerdit what goes out 3) Nominal A/c- Debit all expenses & losses and credit all incomes & gains



    Posted by: Ramesh.s    

    Contact Ramesh.s Contact Ramesh.s

    1 Personal account
    - Debit the receiver
    - Credit the given
    2 For real account
    - Debit what comes in
    - Credit what goes out
    3 Nominal account
    - Debit all the expeneses & loss
    - Credit all the profit & gains

    Above given formula & classification of account are called old modal of accounting system



    Posted by: Abhinandan yadav    

    Contact Abhinandan yadav Contact Abhinandan yadav

    Real Account: Dr. What Comes in
    Cr. What Goes out.

    Nominal Account: Dr. All Expenses and Losses
    Cr. All Income and Revenue.

    Personal Account: Dr. The Receiver
    Cr. The Giver.



    Posted by: Amit Jana    

    Contact Amit Jana Contact Amit Jana

    REAL ACCOUNTS DEBIT WHAT COMES IN
    CREDIT WHAT GOES OUT
    PERSONAL ACCOUNTS DEBIT THE RECEIVER
    CREDIT THE GIVER
    NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
    CREDIT ALL INCOMES AND REVENUES



    Posted by: mukesh    

    Contact mukesh Contact mukesh

    parsnal account- Dr the Recever Cr. the giver.
    real account- Dr. whats comes in Cr. whts gose out.
    Nomenal Account- Dr.All expenses Cr. all incomes and Revenues



    Posted by: Harish Singh    

    Contact Harish Singh Contact Harish Singh

    REAL ACCOUNTS DEBIT WHAT COMES IN
    CREDIT WHAT GOES OUT
    PERSONAL ACCOUNTS DEBIT THE RECEIVER
    CREDIT THE GIVER
    NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
    CREDIT ALL INCOMES AND REVENUES



    Posted by: sarangabani v    

    Contact sarangabani v Contact sarangabani v

    REAL ACCOUNTS DEBIT WHAT COMES IN
    CREDIT WHAT GOES OUT
    PERSONAL ACCOUNTS DEBIT THE RECEIVER
    CREDIT THE GIVER
    NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
    CREDIT ALL INCOMES AND REVENUES



    Posted by: satyendra tiwari    

    Contact satyendra tiwari Contact satyendra tiwari

    IN ACCOUNTING BASIC THERE ARE THREE GOLDEN RULES IN ACCOUNTING--
    Rules for Real Account:Debit what comes in and credit what goes out
    Rules for Personal Account: Debit the receiver and credit the giver
    Rules for Nominal Account:Debit all expenses and losses and credit all Incomes and gains



    Posted by: Abinash Sahoo...8553610030    

    Contact Abinash Sahoo...8553610030 Contact Abinash Sahoo...8553610030

    THE GOLDEN RULES OF ACCOUNTING ARE:
    1)FOR REAL A/C.:
    Debit what comes in
    Credit what goes out

    2)FOR PERSONAL A/C.:
    Debit the receiver
    Credit the giver

    &

    3)FOR NOMINAL A/C.:
    Debit all expenses & losses
    Credit all Incomes & gains



    Posted by: Mohit Chellaramani    

    Contact Mohit Chellaramani Contact Mohit Chellaramani

    Real a/c :Debit what comes in
    Credit what goes out

    Personal a/c:Debit the reciever
    Credit the giver

    Nominal a/c: Debit all expenses & losses
    Credit all incomes & gains



    Posted by: Raghu chanan    

    Contact Raghu chanan Contact Raghu chanan

    personal-debit the receiver
    credit the giver
    real-debit what comes in
    credit what goes out
    nominal-debit all expenses & losses
    credit all incomes & gains



    Posted by: shreyas shah    

    Contact shreyas shah Contact shreyas shah

    personal account
    receiver dr
    giver cr
    nominal
    expenses and loss dr
    incomes and gians cr
    real a/c
    comes in dr
    goes out cr



    Posted by: v.thirumalatha reddy    

    Contact v.thirumalatha reddy Contact v.thirumalatha reddy

    real a/c:debit what comes in
    credit what goes out

    personal a/c:debit the giver
    credit the receiver

    nominal a/c:debit all expenses&losses
    credit all incomes&gains



    Posted by: Abinaya    

    Contact Abinaya Contact Abinaya

    yes



    Posted by: k jahangir    

    Contact k jahangir Contact k jahangir

    Three Basic Rules of Accounting
    1. Personel A/c : Debit The Reciever and Credit Giver
    e.g. Individual, Organisations or bank
    2. Real A/c : Debit What Comes in Credit what goes out. e.g. Cash, Cheque/Bank, Goods, Assets
    3. Nominal A/c : Debit The Expenses and losses and Credit the Incomes and Gains e.g. salary expense, Stationery, Rent



    Posted by: Imran Bagwan    

    Contact Imran Bagwan Contact Imran Bagwan

    personal account
    receiver dr
    giver cr
    nominal
    expenses and loss dr
    incomes and gians cr
    real a/c
    comes in dr
    goes out cr



    Posted by: Harish Chandra Arya    

    Contact Harish Chandra Arya Contact Harish Chandra Arya

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