What is Suspense A/c?
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Answer / hba
when the total of debit balance does not agree with the
total of credit balance to make it atleast look tally, an
account is opened which known as suspense account.
| Is This Answer Correct ? | 9 Yes | 7 No |
Answer / sandy
Suspense a/c is the temporary account, it is used because
the proper account is not determined at the time of
transaction was recorded. When the proper a/c is determined
then amount will be moved from suspense a/c to proper a/c.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / ankita
suspense a/c is imaginary a/c used as temporary measure only for purpose of reconciling trial balance
later on when errors affecting suspense a/c are detected then rectification entries are passed with the help of suspense a/c
| Is This Answer Correct ? | 1 Yes | 1 No |
Before preparing trial balance if there are errors in posting which affects the trial balance and it is not allied the difference put in an account known as suspence account to tally the trial balance
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / prateek
Suspense A/C is a nominal A/C which is opened ion books of
account for tally the financial statement. and after
somtime mgmt find he error and write off suspense a/c
| Is This Answer Correct ? | 0 Yes | 1 No |
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