CBSE Class 11-commerce Answered
How we will judge that suspense account is needed to be open or not?
Asked by shiphalijain | 25 Feb, 2018, 04:04: PM
Expert Answer
If there is difference in the Trial balance then the suspense account which is an account of temporary nature is opened to place the diference amount. When errors are located entries are passed with the help of Suspense account and when all errors affecting the Trial balance are located the Suspense account stands closed.
Answered by Tharageswari S | 25 Feb, 2018, 10:08: PM
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