17. Adjustments to Profit and Suspense Accounts Flashcards
1
Q
What is the suspense account?
A
A T-account with a balance equal to the difference on the Trial Balance.
It serves as a check when finding errors.
Financial Accounting > 17. Adjustments to Profit and Suspense Accounts > Flashcards
What is the suspense account?
A T-account with a balance equal to the difference on the Trial Balance.
It serves as a check when finding errors.
Financial Accounting (29 decks)