What is creditor How you will define golden rules of accounting Diff. In expenditure and saving account

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Creditor is a person or entity to whom money is owed. Golden rules of accounting are basic principles to maintain financial records. Expenditure account records expenses while saving account records savings.

A creditor is someone who is owed money by a debtor
Golden rules of accounting are: a) Debit the receiver, credit the giver b) Debit what comes in, credit what goes out c) Debit expenses and losses, credit income and gains
Expenditure account records all expenses incurred by a business or individual
Saving account records all savings made by a business or individual

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Creditors mean (लेनदार) business me jo log humse paise magte h unhe lender yani creditors kaha jata h.  
Like hum bhi kisi na kisi se stock purchase krte h vo bhi humse paise magte h.. 
Golden rule :-   personal account     debit the receiver credit the Giver 
Real Account  debit what come in  credit what goes out
Nominal account debit all Expensive losses, credit all income to profit

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The golden rules of accounting are the foundational principles for recording financial transactions, categorized by account type:

1. Real Account (Assets):

Rule: Debit what comes in, Credit what goes out.

Example: Buying machinery (debit machinery, credit cash).

2. Personal Account (Individuals or organizations):

Rule: Debit the receiver, Credit the giver.

Example: Receiving money from a customer (debit cash, credit customer).

3. Nominal Account (Expenses, losses, income, and gains):

Rule: Debit all expenses and losses, Credit all incomes and gains.

Example: Paying rent (debit rent expense, credit cash).

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The three golden rules of accounting are1. debit all expenses and losses, credit all incomes and gains,2.debit the receiver, credit the giver,3.debit what comes in, credit what goes out.

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The party that has delivered a product, service or lone is owned money by one or more debtors is called creditors. 
Golden princepule of account :-
1. Personal account. 
Debit is the receiver and credit is the giver. 
2. Real account :-
Debit what's comes in and credit what's goes out. 
3. Nominal account :-
All expenses and losses should be debit and all income and gain should be credite.

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The three golden rules of accounting are (1) debit all expenses and losses, credit all incomes and gains, (2) debit the receiver, credit the giver, and (3) debit what comes in, credit what goes out. These rules are the basis of double-entry accounting, first attributed to Luca Pacioli.

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Whom owned by the money is called creditor. They are three types of golden rules. Personal account debit is the receiver, credit is the giver.
Real account debit what comes in , credit what goes out. Nominal account debit all expenses and loss, credit all incomes and gains.

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Type of golden rules:Personal account- Dr. the receiver, Cr.the giver. Real Account- Dr. What comes in, Cr. What goes out. Nominal account- Dr. All expenses and losses, Cr. All incomes and gain

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Creditor is a person or entity to whom money is owned.golden rules of accounting 1 Debit what comes in credit what goes out 2.credit the giver and Debit the receiver it is the rule of personal account.credit all income and Debit all expenses.1 personal account 2 real account 3Nominal account

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types of golden rules . 1.personal account Dr.the rec. Cr.the giver 2.Real account Dr.the what comes in Cr.the what goes out 3.Nominal account.

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Creditors are individuals or entities that have lent money to another individual or entity. They typically charge interest and the money is owed back to them. For example, a bank lending money to a person to purchase a house is a creditor.

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There are three types of golden rules . 1.personal account Dr.the rec. Cr.the giver 2.Real account Dr.the what comes in Cr.the what goes out 3.Nominal account

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MuneeswarReddy vaddi

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Golden rules of accounting Personal accounting: debit the reciver credit the giver, real account: debit what comes in credit what goes out, Nominal account: Debit all the expenses and losses credit all the income and gains

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They are there types of golden rules of accounting 1 is the personal account 2 and is real account 3 Rd is nominal account

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• The party who sells the goods on credit or lends the money is called the creditor.

Golden Rules of Accounting

1) Rule One. "Debit what comes in - credit what goes out." This legislation applies to existing accounts. ...
2) Rule Two. "Credit the giver and Debit the Receiver." It is a rule for personal accounts. ...
3) Rule Three. "Credit all income and debit all expenses."

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Creditor is a person who gives the money to debitor ex: A company to start a business so creditor is giver and three golden rules of accounting that is : personal account : debit is the receiver credit is the giver : real account : Dr : what comes in . CR : what goes out.nominal account : Dr: all expenses and losses.cr: all incomes and gains

What is creditor How you will define golden rules of accounting Diff. In expenditure and saving account

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