Golden Rule of Accounts

Golden Rule of Accounts

There are Three Types of Golden Rules of Accounts:

• Personal Accounts

• Real Accounts

• Nominal Accounts

In this Blog we discuss only Personal Accounts

• Personal Accounts: These are the accounts with which a business does dealings. These accounts are pertained to a firm, an individual etc. Examples are Prepaid accounts, debtor account, ABC ltd account etc.

 Golden Rule:-

                         
                                    ( Debit The Receiver & Credit The Giver )

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