What is the cardinal rule of the double entry system?
...What is the cardinal rule of the double entry system?
Debit the increasing account and credit the decreasing account
Debit the receiving account and credit the giving account
Debit the asset account and credit the liability account
Debit the revenue account and credit the expenditure account
Correct answer is B
No explanation has been provided for this answer.
The entries for cash drawn from the bank by a proprietor for the private use is: debit ...
Which of the following items is classified as capital expenditure in public sector accounting? ...
Impersonal real accounts include: i. expenditure on telephone ii. motor vehicles iii....
A business firm incurs labour cost in installing machinery. This should be treated as ...
Which of the following is found in a Sales Ledger Account? ...
The payee of a cheque is the ...