what is Suspence Account?

Answer Posted / steve-ku

Suspense account is used to record or post the difference in
the trial balance when it fail to balance and no immediate
error can be accounted for.

Is This Answer Correct ?    4 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What is the Technology used to carry out trades?

4100


what is operational risk and market risk in basel 2 norms.

1597


i want the difference p&l a/c and Income and expediture statement

1587


what are the different kinds of cash books

1606


what is the difference between speculation & investment?

1738






How to Calculate Mortgage?

1878


what is dieerence between capital cpapital structure

1850


Received cheque Rs 250000 which is exclusive of 5% Security deposit 2.24% income tax and i% miscellaneous recovery. Pass necessary entry

1725


What is pre-paid amount? What is post-paid amount? Explain received in advance? Explain paid in advance?

1723


while passing a journal entry we rite dr. for the a/c to be debited but why don't we write cr. for the a/c which is credited and instead write 'TO'??

1554


what is transposition-cum-demat?

2053


Accounting related interview questions on ibm

937


What is the relationship between, issued share capital, share premium and paid up capital?

1900


Can anyone mail journal entries for me? my Mail id rukmini@live.in

1432


What are the names of the codes which are needed for RTGS ? Payment and wire transfer respectively ?

1334