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Answer to Question #134527 in Accounting for Dinesh
Question #134527
What do you mean by suspense account?
Expert's answer
A suspense account is an account used to temporarily post entries which the bookkeeper is unsure of their correct classification pending the determination of their correct posting. It is also used in the correction of a trial balance error when the trial balance does not agree.
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#339914 on Dec 2023
#339914 on Dec 2023
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