Gujarat BoardEnglish MediumSTD 11 CommerceAccountP2 C1 Rectification ofErrors1 Mark
Question
When is the Suspense A/c used?
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Answer
$(1)$ When there is an urgency for preparing the final accounts and under such circumstanceswhen the trial balance is not tallying.
$(2)$ When in any transaction which account is tobe debited or credited is not decided
$(3)$ When in any transaction if the name of theparty is to be kept secret.
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