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What are the "Three Golden rules of Accounting" ?

Accounting Accounting and Finance
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Question added by Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants
Date Posted: 2015/07/13
Upvote (1) Views (12) Followers (6) Answers (4) Report Question
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Ahmed kandil
by Ahmed kandil , Cost Controller , Battour Holding Cpompany

Agree with all answers thank you

CHASTITY ROPAFADZO CHIBVONGODZE
by CHASTITY ROPAFADZO CHIBVONGODZE , Credit Controller , Telecel Zimbabwe

Personal accounts --> Debit the benefit receiver, credit the benefit giver. Real accounts --> Debit what comes in, credit what goes out. Nominal Accounts --> Debit all expenses and losses, credit all incomes and gains.

mehfooz alam khan habib khan
by mehfooz alam khan habib khan , Security Incharge , Landmark Group (Emax)

Yes in personal a/c recieves is debit and gives credit, in real a/canything comes in debit nd anything goes out is credit and in nominal a/c expences losses are debit and incomes gains are credit. These are golden rules of accounting.

Mohammed Asim Nehal
by Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants

Hint : Real , Personal and Nominal Accounts

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