China Gate Restaurants Senior Accounts Executive Interview Questions and Answers

The golden rule of accounting is to debit the receiver and credit the giver.

• Debit the receiver, credit the giver

• Assets = Liabilities + Equity

• Revenue - Expenses = Net Income

• Debit increases assets and expenses, credit decreases them

• Credit increases liabilities, equity, and revenue, debit decreases them

The golden rule of accounting is to record debits and credits accurately to ensure the balance sheet and income statement are correct.

• Debits must equal credits in every transaction

• Assets = Liabilities + Equity

• Revenue - Expenses = Net Income

• Always follow the principle of conservatism

• Maintain accurate and detailed records