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 - 2
A ______ is sent to a customer when he returns the goods
A) Debit note
B) Credit note
C) Proforma invoice
D) Bill
Related Questions - 3
Company features in tally includes
A) Accounting features
B) Inventory features
C) Statutory features
D) All of the above
Related Questions - 4
Retained Earnings is an alias of
A) Indirect Income
B) Reserve and Surplus
C) Capital Account
D) Investments
Related Questions - 5
We can see list of Memorandum Vouchers from
A) Cash/Bank Books
B) Exception Reports
C) Accounts Books
D) Trial Balance