Double Entry System Interview Question:

What are the rules of double entry book keeping for various types of accounts?

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Following are the basic rules of double entry book keeping for various types of accounts:

-Personal Account : Debit the Receiver, Credit the Giver
-Real Account : Debit what comes in, Credit what goes out
-Nominal Account : Debit all the Expenses, Credit all the Incomes
Submitted by: Administrator