CA (Chartered Accountants) Interview Question:

Explain the golden rules of accounting?

Submitted by: Administrator

Real Account : Debit what comes in
Credit what goes out

Nominal Account : Debit all expenses and losses
Credit all incomes and gains

Personal Account : Debit the giver
Credit the received

Real Account : Debit what comes in
Credit what goes out

Nominal Account : Debit all expenses and losses
Credit all incomes and gains

Personal Account : Debit the Receiver
Credit the giver
Submitted by: Administrator

debit wt comes in & credit wt goes out...
debit the receiver credit the giver...
debit al exp & losses credit al gains & income...`
Submitted by: Ronak Jain