O-LevelAccountingVerification of accounting records7707/13 · Oct/Nov 2023 · Q101 Mark
Which statement correctly describes a suspense account?
AIt is an account opened to check for errors in a trial balance.
BIt is a permanent account used to correct the statement of financial position.
CIt is a temporary account used to correct errors of complete reversal.
DIt is an account that is opened when the totals of a trial balance disagree.
✓ Correct answer
D: It is an account that is opened when the totals of a trial balance disagree.
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