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Question: What are the golden rules of accounting?

Answer: 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



Category CA Interview Questions & Answers - Exam Mode / Learning Mode
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Question: What are the golden rules of accounting?
Answer:

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 Source: CoolInterview.com


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

Source: CoolInterview.com

Answered by: Kavitha H B | Date: 12/29/2009 | 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.. Source: CoolInterview.com

Answered by: Palaksha.s | Date: 1/13/2010 | 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.
Source: CoolInterview.com

Answered by: V.SUNDER | Date: 1/15/2010 | Contact V.SUNDER Contact V.SUNDER

Debit the receiver and Credit the giver Source: CoolInterview.com

Answered by: k.Ganeshwari | Date: 2/13/2010 | 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. Source: CoolInterview.com

Answered by: hyndavi | Date: 3/22/2010 | 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 Source: CoolInterview.com

Answered by: Khazi Raza Mohammed | Date: 4/13/2010 | Contact Khazi Raza Mohammed Contact Khazi Raza Mohammed

1)Real a/c :debit what comes in ,credit what goes out
2)Nominal a/c:debit all expenses and losses and credit all income a.c gains
3)Personal a/c:debit is the receiver
and credit is the receiver Source: CoolInterview.com

Answered by: sridhar.p | Date: 5/11/2016 | Contact sridhar.p Contact sridhar.p

There are mainly three Golden rules of Accounts, 1.Personal a/c:Debit the receiver
Credit the giver. Real a/c:Debit what comes comes in 2.Credit what goes out. Nominal a/c:Debit all expenses and losses Credit all income and gain.

Source: CoolInterview.com

Answered by: Prateek Manas | Date: 6/7/2016 | Contact Prateek Manas Contact Prateek Manas

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
Source: CoolInterview.com

Answered by: Subal Behera | Date: 6/13/2016 | Contact Subal Behera Contact Subal Behera

Three golden rules
personal a/c
debit the receiver
credit the giver
real a/c
debit what coms in
credit what goes out
nominal a/c
debit all expenses and losses
credit all gain and profit. Source: CoolInterview.com

Answered by: Mohd haroon | Date: 7/2/2016 | Contact Mohd haroon Contact Mohd haroon

Personal A/C- Debit the Receiver & credit the Giver

Real A/C- Debit what comes in & credit what goes out

Nominal A/C- Debit all expenses & credit all; Incomes & gains Source: CoolInterview.com

Answered by: kanchan pandey | Date: 7/30/2016 | Contact kanchan pandey Contact kanchan pandey


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