Real:- Debit- What comes in and
Credit- What goes out.
Personal:- Debit- The receiver and
Credit- The Giver.
Nominal:- Debit- All expenses and losses and
Credit- All incomes and gains.
Asked Jul 28, 2013
0
Who invented the three golden rules(real, personal and nominal) of accounting?
Real:- Debit- What comes in and
Credit- What goes out.
Personal:- Debit- The receiver and
Credit- The Giver.
Nominal:- Debit- All expenses and losses and
Credit- All incomes and gains.
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