Question :
A) Income
B) Expenditure
C) Liabilities
D) Assets
Answer : C
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
The rate of trade discount varies with the ________ purchased
A) Total asset
B) Current asset
C) Quantity
D) None of these
Related Questions - 2
Full form of ODBC
A) Open database connectivity
B) Open database calculating
C) Open document basically
D) Order data base connection
Related Questions - 3
The options ‘use common narration’ and ‘narration each entry’ appear
A) Account creation screen
B) Voucher entry screen
C) F11 Accounting features
D) Voucher type creation screen
Related Questions - 4
To hide the name of the Company you need to define
A) Security Control
B) Tally Audit
C) Create at least one User
D) Tally Vault Password
Related Questions - 5
The home screen of tally is also known as
A) Menu bar
B) Gateway of tally
C) Accounts info
D) Button tool bar