Question

What do you understand by basic accounting what are the rules of debit and credit?

Answer 1

Debit what comes in, Credit what goes out
Debit the receiver, Credit the giver
Debit the expenses/losses, Credit the income/gains

Answer 2

accounting  is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information.

Golden rules of accounting

debit what comes in  , credit what comes out 
debit the receiver , credit the giver 
debit all expenses and losses , credit  all income and gains 

hope u question cleared