"Debit the receiver credit the giver"is the rule for _____________.

Real account

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Personal account

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Nominal account

No worries! We‘ve got your back. Try BYJU‘S free classes today!

None of these

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B Personal account
Account are classified in to three categories i.e. Personal Account, Real Account and Nominal Account. For every account there is rule. These are called golden rule of accountancy.
Rule for personal account is:
Debit the receiver
Credit the giver

Suggest Corrections

Similar questions

Q. The rule of personal account states that Debit the receiver and Credit the giver.

Q. "Debit the receiver and credit the giver" is the golden rule for which type of account?

Q. The basic rule of book-keeping "Debit the receiver and credit the giver" is applicable to ______________.

Q. The basic rule of book-keeping, debit the receiver and credit the giver is applicable to ________________.

The company sells Product A for Rs 65,000 on credit. The company receives a payment for the Rs 65,000 invoice above in cash. Which account shall be debited?

Join BYJU'S Learning Program

"Debit the receiver credit the giver"is the rule for _____________.

The correct option is B Personal accountAccount are classified in to three categories i.e. Personal Account, Real Account and Nominal Account. For every account there is rule. These are called golden rule of accountancy.Rule for personal account is:Debit the receiverCredit the giver

The correct option is B Personal account
Account are classified in to three categories i.e. Personal Account, Real Account and Nominal Account. For every account there is rule. These are called golden rule of accountancy.
Rule for personal account is:
Debit the receiver
Credit the giver