What is Suspense Accounts?
AccountancyClass 11CBSEAnswered 23 Jun 2026
Answer
If the trial balance does not tally due to the existence of one sided errors accountant has to carry forward his accounting process prepare financial statements. The accountant tallies his trial balance by putting the difference on the shorter side as “suspense account”
Suggested Q&A
Accountancy · Class 11- AccountancyClass 11What is meant by Assets? Also explain its types.
- AccountancyClass 11Explain the following terms of Accounting: (a) Sales (b) Revenues (c) Profit (d) Gain (e) Loss (f) Discount (g) Drawings.
- AccountancyClass 11Describe the informational needs of external users.
- AccountancyClass 11Explain any five advantages of Accounting.
- AccountancyClass 11Explain any five limitations of Accounting.
- AccountancyClass 11Explain the following terms of Accounting: (a) Expenses (b) Expenditure (c) Debtors (d) Creditors (e) Voucher.