JAMB Accounting 2023 Objective — Question 37

Question 37 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

A debit balance on the suspense account will appear in A.

A. asset side of balance sheetCorrect
B. liability side of balance sheet
C. disregarded
D. all of the above

Explanation

A debit balance on the suspense account shows that the assets and expenses have been understated. Thus, it will appear in the asset side of the balance sheet.

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