Question

State the Golden Rule. [For 5 Marks]​

Answer 1

☆Personal Account - Debit the Receiver & Credit the Giver.

☆Impersonal Real Account - Debit what Comes In & Credit what Goes out.

☆Impersonal Nominal Account - Debit all Expenses and Losses & Credit all Income and Gains.

Answer 2

Answer:

Golden rule of account :

• Personal account

Debit the receiver, credit the giver.

• Nominal account

Debit the expense or loss, credit the profit or income.

• Real account

Debit what comes in, credit what goes out.

Hope it helps u....