2 Replies
Vinay somani (CA, CS)
(Assistant Manager-Accounts)
(549 Points)
Replied 10 May 2016
There are three Golden Rules of Accounting.
1. Personal Account
Debit the Receiver and Credit the Giver
2. Real Account
Debit What Comes in and Credit What Goes out
3. Nominal Account
Debit all Expenses or Loss and Credit all Income Gains or Profit
Vinay somani (CA, CS)
(Assistant Manager-Accounts)
(549 Points)
Replied 10 May 2016
There are three Golden Rules of Accounting.
1. Personal Account
Debit the Receiver and Credit the Giver
2. Real Account
Debit What Comes in and Credit What Goes out
3. Nominal Account
Debit all Expenses or Loss and Credit all Income Gains or Profit
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