Accounting Question:
What are the golden rules of accounting?
Answer:
Personal-
Debit the receiver
Credit the Giver
Real-
Debit what comes in
Credit what goes out
Nominal-
Debit all expenses and losses
Credit all income and gains
Debit the receiver
Credit the Giver
Real-
Debit what comes in
Credit what goes out
Nominal-
Debit all expenses and losses
Credit all income and gains
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