Question

difine three golden rule in accounting​

Answer 1

Answer:

3 Golden rules of accounting

It’s no secret that the world of accounting is run by credits and debits. Debits and credits make a book’s world go ‘round.

Before we dive into the golden principles of accounting, you need to brush up on all things debit and credit.

Debits and credits are equal but opposite entries in your accounting books. Credits and debits affect the five core types of accounts:

Assets: Resources owned by a business which have economic value you can convert into cash (e.g., land, equipment, cash, vehicles)

Expenses: Costs that occur during business operations (e.g., wages, supplies)

Liabilities: Amounts owed to another person or business (e.g., accounts payable)

Equity: Your assets minus your liabilities

Income and revenue: Cash earned from sales

Explanation:

MARK it as BRAINLIEST please

Answer 2

The golden rules of accounting revolve around debits and credits. Take a look at the three main rules of accounting:

1. Debit the receiver and credit the giver

2. Debit what comes in and credit what goes out

3. Debit expenses and losses, credit income and gains