pls explain the golden rules of accounting
Answers
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2
Answer:
Real account rule
DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
personal account rule
DEBIT THE RECIEVER
CREDIT THE GIVER
nominal account rule
DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND GAINS
Explanation:
Answered by
0
Answer:
There are 3 golden rules in accounting
Explanation:
They are personal, real, and nominal accounts
Personal involves persons. It says "Debit the receiver and credit the giver"
Real account says "Debit what comes in and credit what goes out"
Nominal account says "Debit all expenses and losses and credit all incomes and gains
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