Identify which is wrong rule?
معلوم کریں کہ غلط اصول کون سا ہے؟
- Nominal account-credit all incomes & gains
- Personal account-debit the receiver
- Nominal account-debit all expenses & losses
- Real account-credit what comes in
Explanation
The wrong rule is "Real account-credit what comes in."
The correct rule for real accounts is to credit what goes out.
Real accounts record assets and liabilities, and credits decrease asset accounts and increase liability accounts.
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