Question

write tha modern rules of accounting​

Answer 1

Answer:

assets - increase - debit decrease - credit

liabilities - increase - credit decrease - debit

revenue - increase - credit decrease - debit

expense - increase - debit decrease - credit

capital - increase - credit decrease - debit

Answer 2

Answer:

for financial transactions can be classified into two types of approaches. One is the Traditional Approach and another one is the Modern Approach. Traditional Approach is also known as the British Approach. While the Modern Approach is also known as the American Approach. Let us learn more about it.