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What are the two rule to follow when changing record in assets/expenses (Losses)?.
What are the two rule to follow when changing record in assets/expenses (Losses)?.
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The two rules to follow while recording differences in Assets/Expenses (Losses) are.
A rise in an asset is debited, and the drop in the asset is credited.
A Rise in expenses/losses is debited, and the drop in expenses/ losses is credited.