Chartered Accountant (CA) Question:
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Explain the golden rules of accounting?
Answers:
Answer #1Real 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
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
Answer #2All those
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