Accounts - Basics of accounting, Golden rules of Accounting
Basics of accounting
Basics of AccountingREAL ACCOUNTS | DEBIT WHAT COMES IN CREDIT WHAT GOES OUT |
PERSONAL ACCOUNTS | DEBIT THE GIVER CREDIT THE RECEIVER |
NOMINAL ACCOUNTS | DEBIT ALL EXPENSES AND LOSSES CREDIT ALL INCOMES AND REVENUES |
The above is the basic golden rules of accounting.
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