Golden Rules in Accounting and explain with example.
Golden Rules of Accounting : There three types of golden rules . They form the basis for recording entries in a Journal Book without which the whole accounting would become an erratic mess. To understand how the golden rules of accounting work, we need to know the types of accounts first. This is because these rules apply to transactions based on a particular account type. 1. Personal Account : These are the accounts that belong to individuals. Basically, the individuals are of three types: ये ऐसे खाते हैं जो व्यक्तियों से संबंधित हैं। मूल रूप से, व्यक्ति तीन प्रकार के होते हैं: Persons: Representing natural persons like Ram’s account. व्यक्ति: राम के खाते जैसे प्राकृतिक व्यक्तियों का प्रतिनिधित्व करना। Artificial Persons: R epresenting partnership firms, associations, and companies like ABC Charitable Trust, XYZ Industries Ltd. कृत्रिम व्यक्ति: एबीसी चैरिटेबल ट्रस्ट, एक्सवाईजेड इंडस्ट्रीज लिमिटेड जैसी साझेदारी फर्मों, संघों
