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What Does Suspense Account Mean?
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Answer / srinivas annavarapu
A Suspense A/c is an account used temporarily to carry out
doubtful receipts or payments / disbursements for which the
analysis or correction (account number or proper account)is
pending. Once the analysis is done and found whether
mistake happened at Debit or Credit, it should be corrected
and Suspense a/c should be made Zero.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / harry
The suspense account temporarily holds unclassified transactions while a decision is being made as to their classification. Transactions in the suspense account will still appear in the general ledger, giving the company an accurate indication of how much money it has.
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Answer / subhash bandi ku 9848741648
suspence account is used for store the short term funds or
secureties when permenant allocation of those funds
| Is This Answer Correct ? | 5 Yes | 26 No |
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