Suppose you open a book store, so, in common parlance, it would be said that the business is being carried on by you, and you are earning profit or incurring loss. However, Accounting sees it...
Personal account: Debit the receiver and credit the giverReal account: Debit what comes in and credit what goes outNominal account: Debit all expenses & losses and credit all incomes & gains
Tips for scoring good marks in accounts:1. Always be attentive during the sessions2. Raise your doubts to clarify it immediately ao that it does not become your permanent doubt.3. Practice hard because...
Dear Students,Every academic subject that you study has a business language and specific jargons of expression.The following popular terms regarding the Accounting principles used in the day to day business...