just simple question .wat are the three golden rules of accounts?

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  • Lata
  • 01 Dec
  • 530879 Views
  • 235 Answers
Your Answer

Real Accounting:
Dr - What comes in
Cr - What goes out
Examples of this kind of transaction include cash/bank and rent.
Personal Accounting:
Debit is the receiver.
Credit is the giver.
An example of this kind of transaction is Vendor/Customer relations.

Nominal Accounting:
All gains and income are credit.
All losses and expenses are debit.
An example of this kind of transaction is sales and/or purchases.

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