GeekInterview.com
  I am new, Sign me up!
 
GeekInterview.com  >  Interview Questions  >  Accounting  >  Accounts Receivables
Go To First  |  Previous Question  |  Next Question 
 Accounts Receivables  |  Question 26 of 46    Print  
What are the three golden rules of accounts
nominal,personal,real


  
Total Answers and Comments: 6 Last Update: May 01, 2009     Asked by: sumedh 
  
 Sponsored Links

 
 Best Rated Answer
Submitted by: radha
 

Personal accounts --> Debit the benefit receiver, credit the benefit giver

Real accounts --> Debit what comes in, credit what goes out

Nominal Accounts --> Debit all expenses and losses, credit all incomes and gains

Above answer was rated as good by the following members:
Kooldude, kbhatta

April 21, 2007 07:30:58   #1  
radha        

RE: What are the three golden rules of accounts

Personal accounts --> Debit the benefit receiver credit the benefit giver

Real accounts --> Debit what comes in credit what goes out

Nominal Accounts --> Debit all expenses and losses credit all incomes and gains
 

Is this answer useful? Yes | NoAnswer is useful 2   Answer is not useful 0Overall Rating: +2    
June 09, 2008 23:37:48   #2  
Sunita Sharma Member Since: June 2008   Contribution: 1    

RE: What are the three golden rules of accounts
Nominal Real Personal
 
Is this answer useful? Yes | No
August 21, 2008 21:01:11   #3  
Kooldude Member Since: August 2008   Contribution: 1    

RE: What are the three golden rules of accounts
Personal Accounting : Debit the Receiver Credit the Giver
Nominal Accounting : Debit all Expenses and Losses Credit all Incomes and Gains.
Real Accounting : Debit What comes in Credit what goes out.

 
Is this answer useful? Yes | No
December 15, 2008 04:52:33   #4  
swat13 Member Since: December 2008   Contribution: 2    

RE: What are the three golden rules of accounts
Personal Real Nominal are the basic 3 accounts
Rule for personal - debit the receiver credit the giver.

 
Is this answer useful? Yes | No
May 01, 2009 12:53:33   #5  
MohitJindal Member Since: May 2009   Contribution: 2    

What are the three golden rules of accounts?
PERSONAL A/C: Debit the Reciever & Credit the Giver.

REAL A/C: What comes in goes to Debit if goes out than Credit.

NOMINAL A/C: Expenses and Losses always Debit & Incomes and Gains always Credit.

 
Is this answer useful? Yes | No


 
Go To Top


 Sponsored Links

 
About Us -  Privacy Policy -  Terms and Conditions -  Contact -  Ask Question -  Propose Category -  Site Updates 

Copyright © 2005 - 2009 GeekInterview.com. All Rights Reserved

Page copy protected against web site content infringement by Copyscape