Procure to Pay Manager 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 ensure that every transaction is recorded accurately and consistently.

• For example, when a company receives cash from a customer, the cash account is debited (increased) and the accounts...read more