GOLDEN RULES OF ACCOUNTING Real accounts personal Accounts Nominal Accounts Real accounts Debit what comes and credit what goes Personal Accounts Debit the receiver and credit the giver Nominal Accounts debit all losses and Exp's and Credit all incomes and profits

Question

Accepted Answer

The golden rules of accounting are principles that guide the recording of financial transactions.

Real accounts: Debit what comes in and credit what goes out. Examples include assets like cash, buildings, and equipment.
Personal accounts: Debit the receiver and credit the giver. Examples include accounts of individuals, firms, or organizations.
Nominal accounts: Debit all losses and expenses and credit all incomes and profits. Examples include revenue, expenses, and gains.
These rules ensure accurate and consistent recording of financial transactions.
They help maintain the fundamental accounting equation: Assets = Liabilities + Equity.

Accepted Answer

A cost sheet is a statement that shows the various components of total cost for a product and shows previous data for comparison we can deduce the ideal selling price of a product based on the cost sheet. A cost sheet document can be prepared either by using historical cost or by referring to estimated costs.

Accepted Answer

YES.... I am comfortable with the work location. I am familiar as it's near by my residential so i am damn sure that I'll be the one who 'll 100 time punctual than other's with the work location and have no issues commuting

GOLDEN RULES OF ACCOUNTING Real accounts personal Accounts Nominal Accounts Real accounts Debit what comes and credit what goes Personal Accounts Debit the receiver and credit the giver Nominal Accounts debit all losses and Exp's and Credit all incomes and profits

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