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Golden rules for accounts kya hai?

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Golden rules for accounts kya hai?

Posted by Swastik Choubey 6 years, 11 months ago

CBSE > Class 12 > Accountancy

2 answers

Yogita Ingle 6 years, 11 months ago

The following are the rules of debit and credit which guide the system of accounts, they are known as the Golden Rules of accountancy:

First: Debit what comes in, Credit what goes out.
Second: Debit all expenses and losses, Credit all incomes and gains.
Third: Debit the receiver, Credit the giver.

Gaurav Seth 6 years, 11 months ago

Real Accounting:
Dr - What comes in
Cr - What goes out
Examples of this kind of transaction include cash/bank and rent.
Personal Accounting:
Debit is the receiver.
Credit is the giver.
An example of this kind of transaction is Vendor/Customer relations.

Nominal Accounting:
All gains and income are credit.
All losses and expenses are debit.
An example of this kind of transaction is sales and/or purchases.

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