If the trial balance does not agree, difference of the trial balance is placed to ________ account.

Personal

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Suspense

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Rectification

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Real

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Solution

The correct option is B Suspense
Trial Balance is prepared by taking the balances of all ledger account. Trial balance is prepared to check the arithmetical accuracy. If the total of debit and credit are tallied, it is proved that the books are arithmetically accurate.

If the trial balance does not agree, difference of the trial balance is placed to suspense account.

Suggest Corrections

Similar questions

Q. In case, a trial balance does not agree, the difference is put to ___________.

State true or false:

1) A Trial balance is an account.
2) A Trial balance is helpful for preparation of final accounts.
3) A Trial balance is most important document.
4) A Trial balance may be prepared on any date.
5) In Trial balance opening stock is recorded in credit balance column.
6) Both sides total of an account are taken in Gross Trial Balance.
7) Purchase account always shows debit balance.
8) A Trial balance is a List of Ledger balances.
9) A Trial balance does not ensure accounting accuracy.
10) A Trial balance shows only arithmetical accuracy.

Q. If the trial balance do not agree after transferring the balance of ledger accounts including cash and bank balance and also errors are not located timely, then the trial balance is tallied by transferring the difference of debit and credit side to an account known as -

Q. If the trial balance do not agree after transferring the balance of all ledger accounts including cash and bank balance and also errors are not located timely, then the trial balance is tallied by transferring the difference of debit and credit side to an account knows as_____________.

Q. A Trial balance may not agree in case of_____.

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