Accounts - Basics of accounting, Golden rules of Accounting

Basics of accounting

Basics of Accounting

REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
PERSONAL ACCOUNTSDEBIT 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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