Q.4 What are the Principles of Double Entry System ?
दोहरी प्रविष्टि प्रणाली के सिद्धांत क्या हैं?
Ans: In this system business transactions are written on the basis of some specific principles. The rules are:
- For Personal Account : Debit the account of the receiver and credit the giver.
- For Real Account : Debit the account of what comes in and credit what goes out.
- For Nominal Account : Debit the account of all expenses and losses and credit all incomes and profits.
- Firstly decide both aspects of the account from transactions and then debit or credit them according to rules or principles.
| Source: RBSE Accountancy : 11th Class : Page Number 23 |
| Keywords: For Personal Account, For Real Account, For Nominal Account, transactions |
| Extra Infor: |
