Care Health Insurance Industrial Trainee Interview Questions and Answers

Golden Rules of Accounting are basic principles to prepare financial statements.

• Debit the receiver, credit the giver

• Debit what comes in, credit what goes out

• Debit all expenses and losses, credit all incomes and gains

• These rules are used to maintain the accuracy and consistency of financial records

• For example, if a company purchases inventory on credit, the inventory account will be debited and the accounts payable acco

Preparing a budget involves forecasting income and expenses, while analysis involves comparing actual results to the budget.

• Identify all sources of income and expenses

• Forecast income and expenses for the budget period

• Allocate funds to different categories based on priority

• Regularly monitor actual results and compare to the budget

• Adjust the budget as necessary based on actual results