Three golden rules of accounting
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Debit the receiver credit the giver, debit what comes in n credit what goes out, Credit all expenses & losses and Debit all incomes and gains
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Debit the Giver & credit the Receiver, debit what goes out n credit what comes in, debit all expenses & losses and credit all incomes and gains
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Credit the receiver & Debit the giver, Credit what comes in n Debit what goes out, debit all expenses & losses and credit all incomes and gains
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Debit the receiver credit the giver, debit what comes in n credit what goes out, debit all expenses & losses and credit all incomes and gains
The three golden rules of accounting are: 1) Personal account - Debit the receiver, Credit the giver; 2) Real account - Debit what comes in, Credit what goes out; 3) Nominal account - Debit all expenses & losses, Credit all incomes & gains. Option D correctly states all three rules. Options A, B, and C each have errors in one or more rules.