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Question
State whether the following statement is True or False with reason:
There is no need to open a Suspense Account if the Trial Balance agrees.
Options
True
False
MCQ
True or False
Solution
This statement is True.
When the trial balance agrees, it means debit side total is equal to the credit side total of balances of Ledger accounts. So, we can say that there is no need to open a Suspense Account if the trial balance agrees.
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Preparation of Suspense Accounts
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