Introduction Of Accounting Part:- 2

Personal Account:- Personal account means the accounts related to the person. The person receives benefit from the business, those benefits person account is said to be debited. If the person gives any benefits to the business then that person's account is credited.

Real Account:- Real account are accounts of assets and properties that can be seen, touched, can be purchased and sold.

Nominal Account:- The account which is related to the accounts of incomes and expenses incurred by the business, is called a nominal account.

GOLDEN RULES:-

A. PERSONAL ACCOUNT

DEBIT THE RECEIVER

CREDIT THE GIVER

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B. REAL ACCOUNT

DEBIT WHAT COMES IN 

CREDIT WHAT GOES OUT

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C. NOMINAL ACCOUNT

DEBIT ALL EXPENSES AND LOSSES 

CREDIT ALL INCOMES AND GAINS

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