'It' is an artificial account that appears in the Trial Balance to account for undetected errors. Here 'It' stands for ______?

آئی ٹی ایک مصنوعی اکاؤنٹ ہے جو آزمائشی توازن میں ظاہر ہوتا ہے کہ اس کا پتہ نہیں چل سکا ہے۔ یہاں 'آئی ٹی' کا مطلب کیا ہے؟
Answer: Suspense A/c
Explanation
  • A Suspense Account is used to temporarily record transactions when there are discrepancies or unidentified amounts in the Trial Balance.
  • It helps in locating and correcting undetected errors before finalizing the accounts.
  • This question appeared in Past Papers (3 times)
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    ACCOUNTING (1 times)

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