Accountant and Financial Analyst Interview Questions and Answers

Golden rules of accounting are basic principles that guide the process of recording financial transactions.

• There are three golden rules of accounting: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• These rules help maintain the balance in the accounting equation: Assets = Liabilities + Equity.

• For example, when a company receives cash from a customer, it would debit the cash account (what come...read more