Accountancy, asked by shahilshahshah173, 5 days ago

What are the cases where suspense account not required to be created? Explain with example.

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Answered by s5d1582manav9081

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. A suspense account can also hold information about discrepancies as you gather more data.

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What are the cases where suspense account not required to be created? Explain with example. ​

Answers

What are the cases where suspense account not required to be created? Explain with example.