. Debit the receiver credit the giver is the rule for


A: Real account

B: Personal account

C: Nominal account

D: None of these

 

Best Answer

Explanation:

The debit-credit or the accounting rules for the three types of accounts are:

  • For real accounts, the rule is- debit what comes in, credit what goes out.
  • For personal accounts, the rule is- debit the receiver, credit the giver.
  • For nominal accounts, the rule is- debit all expenses & losses, Credit all incomes & gains.

Final answer:

Hence, the correct answer is option B: Personal account.

 

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