Question

Explain the place of a suspense account as part of the process to correct unresolved errors detected by a trial balance?

Answer 1

Explanation:

A suspense account is a temporary measure for rectification of mistakes in the books of account. In a case where we detect the errors before closing the ledger accounts, then we rectify such errors by making a posting at the debit side or credit side as the case may be.

Answer 2

Answer:

A suspense account is a temporary measure for rectification of mistakes in the books of account. In a case where we detect the errors before closing the ledger accounts, then we rectify such errors by making a posting at the debit side or credit side as the case may be.