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What Does Suspense Account Mean?
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Answer Posted / chandu
Suspense account means,at the time of preparing trail
balance the debit and credit balances are not equal,we are
not able to equal the two things because of some accounting
errors,at that time we create a suspense account and put the
balance in that.
In another terms in business some sort of expenses and
revenues don't have specific ledger, at the time those
expenses and revenues show in the separate account,its
called as suspense account.
| Is This Answer Correct ? | 46 Yes | 5 No |
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