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Frequently Asked Questions


1. What are the three types of accounting?

When it comes to the traditional approach has 3 types of accountings one is Real, Personal, and Nominal.

2. How do you solve accounting?

The accounting chapter can be solved as it is based on double-entry accounting, a complex structure on the balance sheet. The sum of the liability and equity of capital solves the Accounting chapter. 

3. What are the questions for financial accounting?

When you go for any exam, the interviewer may ask questions about balance sheets, financials, and income statements.

4. What is the basic knowledge of accounting?

The Basic knowledge of accounting based on financial and income statements and liability statements also comes under the basic knowledge.

5. What are the three golden rules of accounting?

The three golden rules include: –

  1. Debit what comes in – credit what moves out.
  2. Credit the contributor and the capital generated.
  3. Credit all income and debit all flow of expenses.

6 What are the 3 basic accounting principles?

The basic accounting principles are set up with specific guidelines by accounting standards like GAAP and IFRS for organizations. It includes; – Consistency principle, Accrual Principle, and the full Discloser principle.

7. How can I make accounting easier?

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Jody Macias