State the rule of Nominal Account
6. What is Double Entry book-keeping System?
7. State the meaning of Real Account.
8. What is GST ?
9 what is narration
10 srate the rule of nominal account
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Rule of nominal account : debit all expenses and losses and credit all income and gains
6) every transaction is recorded twice I.e two fold aspect
7) real account : debit what comes in credit what goes out
8) goods and service tax GST : one nation one tax
9) narration is description in journal entries
6) every transaction is recorded twice I.e two fold aspect
7) real account : debit what comes in credit what goes out
8) goods and service tax GST : one nation one tax
9) narration is description in journal entries
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