kmf229

yes beatthecfa, thats how they teach at school
There are “only three” types of accounts  personal , real and nominal. and there are “only three rules” of dr/cr as follows:
1.Personal account: (include individuals and organisations)
dr the reciever
cr the giver
2. Nominal Account include exps & income)
dr the exps
cr the income
3. Real Account inlcudes Assets)
dr what comes in
cr what goes out
lzen5, hope u can remember the three rules. Y to take any chances in CFA exams?