FTC Supervisor Interview Questions and Answers

The golden rules of accounting are fundamental principles that guide the recording and reporting of financial transactions.

• The golden rules include the principles of debit and credit, which determine how transactions are recorded in the accounting system.

• The three golden rules are: 1) Debit what comes in, credit what goes out; 2) Debit all expenses and losses, credit all incomes and gains; 3) Debit the receiver, credit the giver.

• For example, when a company receives cash from ...read more