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Subjects

Accountancy

rules of debit/credit

This Class 11 Accountancy topic explains the basic rules used to record business transactions in the chapters Recording of Transactions I & II. Students learn how to identify debit and credit sides, classify accounts as personal, real, or nominal, and apply the rules: debit the receiver and credit the giver; debit what comes in and credit what goes out; debit expenses and losses and credit incomes and gains. The topic also supports accurate journal-entry preparation and a clearer understanding of ledger records.

Medium · Level 1 · 1 questions

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  1. Glacial plucking
  2. Marine deposition
  3. Wind deflation
  4. Abrasion by pebbles in swirling water

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