The rule debit all expenses and losses and credit all income and gains relates to

Related MCQs

• The accounts that records expenses, gains and losses are
• Debit the receiver credit the giver rule for
• The transferring of debit and credit items from journal to the respective accounts in the ledger is called as
• Debit the receiver & credit the giver is _____ account.
• For every debit there will be an equal credit according to
• Identify which is wrong rule
• All those to whom business owes money are:
• Profit and loss is calculated at the stage of
• An accounting that deals with the accounting and reporting of information to management regarding the detail information is