Accounting for IGCSE & O level - Accounting Procedures (Section 15 - No. 50)

When a business initially discovers that its trial balance does not balance, which account is often used as a temporary measure to make the two sides agree?

Retained Earnings

Suspense Account

Sales Revenue

Inventory

Explanation

The suspense account is a temporary account used to hold the difference in a trial balance until the error can be identified and corrected.

Accounting for IGCSE & O level - Accounting Procedures (Section 15 - No. 50)

Explanation

Comments (0)