What Are the Three Golden Rules of Accounts? (2024)

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The three golden rules of accounting are:
Debit the receiver, credit the giver
Debit what comes in, credit what goes out
Debit expenses and losses, credit incomes and gains.
Also read:
Accounting MCQs
Difference Between Bookkeeping and Accounting
Dual Aspect Concept in Accounting
Difference Between Cash Basis and Accrual Basis of Accounting
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What is Financial Reporting What Is Financial Reporting? Definition, Importance, and Types

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