What are the three golden rules of accounting?

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1268009

2026-04-01 19:15

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Real Accounting:

Dr - What comes in

Cr - What goes out

Examples of this kind of transaction include cash/bank and rent.

Personal Accounting:

Debit is the receiver.

Credit is the giver.

An example of this kind of transaction is Vendor/Customer relations.

Nominal Accounting:

All gains and income are credit.

All losses and expenses are debit.

An example of this kind of transaction is sales and/or purchases.

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