Question

$\large\bold\red{Very \: Good \: Evening }$
•Why do we need to know the golden rules of Accounting?​

Answer 1

Answer (✿^‿^)

Gud Evening ¡!

Credits increase equity, liability, and revenue accounts and decrease asset and expense accounts. You must record credits and debits for each transaction. The golden rules of accounting also revolve around debits and credits. ... Debit expenses and losses, credit income and gains.

Answer 2

Answer:

Credits increase equity, liability, and revenue accounts and decrease asset and expense accounts. You must record credits and debits for each transaction. The golden rules of accounting also revolve around debits and credits. ... Debit expenses and losses, credit income and gains.

@ItzmeMili