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Answer Posted / pawan kumar
In order for to avoid the delay in preparations of final
accounts,the difference in trial balance is put in the
account named suspense account.If the debit is more than
that of credit in trial balance then on credit side the
difference is put in credit mentioning to suspense
account.if in future any error is found then suspense
account is closed,then also if there is any balance then it
is transfered to balance sheet.
| Is This Answer Correct ? | 54 Yes | 11 No |
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