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Obaidul Haque 26 Jun, 2024 10:43:05 PM 1 29
Best Answer: So, this is among the most frequently asked accounting interview questions. Your reply should be –
This principle is used in the case of personal accounts. If a person is giving any amount either in cash or by cheque to an organization, it becomes an inflow and thus, that person must be credited in the books of accounts. Therefore, when an organization received the money or cheque, it needs to credit the person who is paying and debit the organization.
Obaidul Haque 26 Jun, 2024 10:43:05 PM
