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Subject - Accounting:

General Concepts

MCQ - 63-65

Question:

What should happen if the balance on a Suspense Account is of a material amount?

  1. Write it off to Profit and Loss Account
  2. Should be written off to the balance sheet
  3. Carry forward the balance to the next period
  4. Should be written off to the balance sheet

Correct Answer: D

Explanation:

Not available

Record Performance

355 MCQ for effective preparation of the test of General Concepts of Accounting section.

Read the MCQ statement: What should happen if the balance on a Suspense Account is of a material amount?, keenly and apply the method you have learn through the video lessons for General Concepts to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 63-65.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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