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Lesson Posted on 08 Apr CBSE/Class 11/Commerce/Accountancy

Rules of Accounting

SAHIL COMMERCE CENTRESahil Commerce Centre

Sahil Commerce Centre after scrutinizing a wide gamut of academic and professional capabilities of its...

Personal Account- Debit the receiver Credit the giver. Real Account- Debit what comes in Credit what goes out Nominal Account- Debit all expenses and loss Credit all incomes and gain
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Lesson Posted on 20 Mar CBSE/Class 11/Commerce/Accountancy

GOLDEN RULES OF ACCOUNTING

Dr. Sanjay Hiran

I want to give my students academic as well as professional knowledge about related subjects (Accounts,...

Golden Rules of debit and credit 1. Personal accounts : Debit the receiver & Credit the giver (supplier).2. Real accounts : Debit what comes in & Credit what goes out.3. Nominal accounts : Debit expenses and losses & Credit incomes and gains. read more

Golden Rules of debit and credit

1. Personal accounts : Debit the receiver & Credit the giver (supplier).
2. Real accounts : Debit what comes in & Credit what goes out.
3. Nominal accounts : Debit expenses and losses & Credit incomes and gains.

read less
Comments
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Lesson Posted on 20 Mar CBSE/Class 11/Commerce/Accountancy

GOLDEN RULES OF ACCOUNTING

Dr. Sanjay Hiran

I want to give my students academic as well as professional knowledge about related subjects (Accounts,...

Rules of debit and credit 1. Personal accounts : Debit the receiver & Credit the giver (supplier)2. Real accounts : Debit what comes in & Credit what goes out3. Nominal accounts : Debit expenses and losses & Credit incomes and gains read more

Rules of debit and credit 
1. Personal accounts : Debit the receiver & Credit the giver (supplier)
2. Real accounts : Debit what comes in & Credit what goes out
3. Nominal accounts : Debit expenses and losses & Credit incomes and gains

read less
Comments
Dislike Bookmark

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Answered on 28 Feb CBSE/Class 11/Commerce/Accountancy

Aman Mehta

Tutor

As per Matching concept, expenditure should equal to the income for an accounting year. Purpose behind the matching concept is that the misstated earning can be avoided.
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Answered on 18 Mar CBSE/Class 11/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Abhinav Anand

Tutor

Profitability of a business entity can be estimated through trading p&l account. Where trading account states the gross profit and p&l account states the net profit earned by the entity.
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Answered on 17 Feb CBSE/Class 11/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Gajender Vats

Tutor

In simple terms any thing bring by the owner of business to start the business activity or for investing
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Answered on 14 Feb CBSE/Class 11/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Priyanka Vijayananth

I am Searching for new authors ??

Pay-in-slip is a form available in banks and is used to deposit money into a bank account.
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Answered on 25 Jun CBSE/Class 11/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Name the concept under which the skills or quality of the management team is not disclosed in the financial statements.

Rishana PP

Accounts Faculty

Money measurement concept.It says that only the information related to money is recorded in business and no qualitative information is recorded. The skill, quality etc of management and workers is not recorded as its not quantitative or cannot be expressed in terms of money
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Answered on 06 Feb CBSE/Class 11/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Under which basis of accounting only cash transactions are recorded in the books?

Ashok Mahajan

No.1 in Accounts coaching

Cash Basis method
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Answered on 14 Feb CBSE/Class 11/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

What are the fixed assets? Give example.

Priyanka Vijayananth

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The term 'fixed assets' refers specifically to assets that cannot be converted easily or quickly into cash. Examples: motor vehicles, furniture, office equipment, computers, patents etc.
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