what is golden rule in accountancy?
Answers
Answered by
2
Debit the Reciever,Credit the giver
debit what comes in,credit what goes out
debit all exp n losses,credit all incme n gain
debit what comes in,credit what goes out
debit all exp n losses,credit all incme n gain
Answered by
14
Answer:
The journal entries are passed on the basis of the Golden Rules of accounting. To apply these rules one must first ascertain the type of account and then apply these rules. Debit what comes in, Credit what goes out. Debit the receiver, Credit the giver. Debit all expenses Credit all income.
Similar questions