Suspense Account Group is defined under
A) Income
B) Expenditure
C) Liabilities
D) Assets
Answer : C
Description :
In tally Suspense Account Group is defined under Liabilities. A suspense account is an account used to temporarily store transactions for which there is uncertainty about where they should be recorded. Once the accounting staff investigates and clarifies the purpose of this type of transaction, it shifts the transaction out of the suspense account and into the correct account(s). An entry into a suspense account may be a debit or a credit.
Related Questions - 1
We can see list of Memorandum Vouchers from
A) Cash/Bank Books
B) Exception Reports
C) Accounts Books
D) Trial Balance
Related Questions - 2
Suspense Account Group is defined under
A) Income
B) Expenditure
C) Liabilities
D) Assets
Related Questions - 3
Which of the following shows daily balance for a selected voucher type
A) Day book
B) Trial Balance
C) Balance Sheet
D) None of the above
Related Questions - 4
‘Inventory books’ is used to view
A) Stock Items
B) Group Summary
C) Both A and B above
D) None of these
Related Questions - 5
Which shortcut key is used in Company Features screen to use Inventory Features in Tally
A) F1
B) F2
C) F3
D) F4