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What is the golden rule of …

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What is the golden rule of accountancy

Posted by Abhishek Sharma 6 years, 9 months ago

CBSE > Class 11 > Accountancy

2 answers

Kunal Agrawal 6 years, 9 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.

Raunak Kumar 6 years, 9 months ago

For personal account - debit the reciver , credit the giver For real account - debit what comes in , credit what goes out For nomial account - all expenses and looses are debit , all gain and profit are credit ?

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CBSE > Class 11 > Accountancy

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