Question

golden rule in accounting​

Answer 1

Answer:

Real account : Debit what comes in; credit what goes out

Personal Account: Debit the receiver; credit the giver

Nominal Account: Debit all expenses and losses; credit all income and profits

Explanation:

Real accounts are the assets excluding debtors example- land , building, cash, machinery etc

Personal accounts relate to an individual person or firm example- Debtors, creditors etc

Nominal Accounts are related to expenses, losses, gains, revenue etc example- salary, sale, purchase, interest received etc

Answer 2

PLZ MARK IT AS BRAINLIST

3 golden rules in accounts are:

● " Debit what comes in and credit what goes out "

●"Debit the receiver and credit the giver "

●"Debit all the losses and expenses and credit all the incomes and gains.

Hope it helps u