Golden Rules of Accounting
An easy quiz on the three golden rules and how they guide everyday bookkeeping.
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Quiz Questions & Answers
Review every prompt, the correct responses, and helpful context to prep for your own run-through.
Question 1: Which rule applies to a personal account when someone gives value to the business?
Debit the receiver
Credit the giver
Debit all expenses
Question 2: If your business buys office supplies for cash, what should be debited?
Office supplies expense
Cash received
Owner's capital
Question 3: What is the main idea of the real account rule?
Debit what comes in, credit what goes out
Credit all incomes
Debit the giver, credit the receiver