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CBSE Class 11-commerce Answered

State the rules of debit and credit under the traditional approach.
Asked by Topperlearning User | 14 Jun, 2016, 11:36: AM
answered-by-expert Expert Answer

Types of Account

Accounts to be Debited

Accounts to be Credited

 

i. Personal Account

Receiver

Giver

ii. Real Account

What comes in

What goes out

iii. Nominal Account

Expenses and losses

Incomes and gains

 

Answered by | 14 Jun, 2016, 01:36: PM
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