Question

What are the three golden rules of accounting?​

Answer 1

Answer:

Debit the receiver and credit the giver. The rule of debiting the receiver and crediting the giver comes into play with personal accounts. ...

Debit what comes in and credit what goes out. For real accounts, use the second golden rule.

Debit expenses and losses, credit income and gains.

Answer 2

Personal Account.

Real Account.

Nominal Account.

Debit the receiver, credit the giver.

Debit what comes in, credit what goes out.

Debit all expenses and losses and credit all incomes and gains.