Internal Audit Officer Interview Questions and Answers for Freshers

The golden rules of accounting are basic principles that guide the recording of financial transactions.

• The first golden rule is the Debit-credit rule, which states that for every debit entry, there must be a corresponding credit entry.

• The second golden rule is the Real account rule, which states that all assets and liabilities have a debit and credit side respectively.

• The third golden rule is the Nominal account rule, which states that all revenue and expense accounts have a ...read more