Question

what is the golden rules in commerce..
ex:debit. credit
assets liabilities​

Answer 1

Answer:

The golden rule for real accounts is: debit what comes in and credit what goes out.

Explanation:

The following are the rules of debit and credit which guide the system of accounts, they are known as the Golden Rules of accountancy:

. First: Debit what comes in, Credit what goes out.

. Second: Debit all expenses and losses, Credit all incomes and gains.

. Third: Debit the receiver, Credit the giver.