Golden rules of accounting
This query is : Resolved
19 February 2016
Hello Everybody
How were the three golden rules of accounting formed? What is the logic behind those rules?
KAVIRAJA ADDANGADI
(Expert)
20 February 2016
Golden Rule Help to Identify for Basis of Accounting The types of accounts viz. personal (Debit The Receiver, Credit The Giver) ,real (Debit What Comes In, Credit What Goes Out)l, nominal (Debit All Expenses And Losses, Credit All Incomes And Gains) , Principles of Golden Rule help to Pass Double Entry based on Identification. Golden rule help Identify what to Debit and Corresponding Credit based Rule.
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