Question

The Golden rules of accounts​

Answer 1

The Golden Rules of Accounting

Debit The Receiver, Credit The Giver. This principle is used in the case of personal accounts. ...

Debit What Comes In, Credit What Goes Out. This principle is applied in case of real accounts. ...

Debit All Expenses And Losses, Credit All Incomes And Gains.

Answer 2

Answer:

The golden rules of accounting also revolve around debits and credits. Take a look at the three main rules of accounting:

Debit the receiver and credit the giver

Debit what comes in and credit what goes out

Debit expenses and losses, credit income and gains