Chartered Accountant (CA) Question:
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Explain the golden rules of accounting?

Answers:

Real Account : Debit what comes in
Credit what goes out

Nominal Account : Debit all expenses and losses
Credit all incomes and gains

Personal Account : Debit the giver
Credit the received

Real Account : Debit what comes in
Credit what goes out

Nominal Account : Debit all expenses and losses
Credit all incomes and gains

Personal Account : Debit the Receiver
Credit the giver

All those

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