Accountancy, asked by divyanshisinghrajput, 3 months ago

is suspense account is a permanent account?

Answers

Answered by vimalkumarvishawkarm

0

Answer:

A suspense account is an account where you record unclassified transactions. The account temporarily holds entries while you decide how you will classify them. ... Eventually, you allocate entries in the suspense account to a permanent account. There is no standard amount of time for clearing out a suspense account.

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