Multiple choice general knowledge

Golden rules of Accounting - Real A/c

  1. Debit all expenses and losses; Credit all Incomes and Gains

  2. Debit what goes out; Credit what comes in

  3. Debit the reciever; Credit the giver

  4. Debit what comes in; Credit what goes out
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

For Real accounts, the golden rule is 'Debit what comes in, Credit what goes out'. Real accounts relate to assets and properties. When an asset is received, it's debited; when it leaves, it's credited. The other options are rules for Nominal (expenses/incomes) and Personal accounts.

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