When the trial balance does not tally and the errors are yet to be detected, the usual practice is to place the difference in account.

asset

No worries! We‘ve got your back. Try BYJU‘S free classes today!

capital

No worries! We‘ve got your back. Try BYJU‘S free classes today!

suspense

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

liability

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C suspense
In such a situation, the usual practice is to place the difference in the suspense account and tally the trial balance for the time being.

Suggest Corrections

Similar questions

After the corrections have been made, a revised Trial Balance is prepared which should normally tally. But, if it does not tally, it means there are still some errors which have not been detected. In such situation the usual practice is to place the difference to ___ Account and tally the Trial Balance for the time being.

Which of the following errors effect the Trial Balance i.e. Trial Balance do not tally due to which of the following errors?

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

Join BYJU'S Learning Program

When the trial balance does not tally and the errors are yet to be detected, the usual practice is to place the difference in account.

The correct option is C suspenseIn such a situation, the usual practice is to place the difference in the suspense account and tally the trial balance for the time being.

The correct option is C suspense
In such a situation, the usual practice is to place the difference in the suspense account and tally the trial balance for the time being.