Question

what is golden rule of account

Answer 1

Answer:

The Golden Rules of Accounting

Debit The Receiver, Credit The Giver. This principle is used in the case of personal accounts. When a person gives something to the organization, it becomes an inflow and therefore the person must be credit in the books of accounts.

Answer 2

Answer:

following are the golden rules of account:

1) personal account- debit the receiver and credit the giver

2) impersonal real account- debit what comes in and credit what goes out

3) impersonal nominal account- debit all expenses and losses and credit all incomes and gains

Explanation:

Hope it helped u mate....❤️❤️