WAEC Accounting 2021 Objective — Question 48
Question 48 of 50 from the West African Examinations Council (WAEC) Accounting 2021 Objective paper, with the correct answer and a full explanation.
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Suspense account is used in the correction of
- A. all errors in the trial balance
- B. errors that affect the agreement of a trial balanceCorrect
- C. errors that do not affect the agreement of a trial balance
- D. errors that affect the accuracy of the net profit
Explanation
A suspense account is used to investigate and correct errors that affect the agreement (balancing) of the trial balance.
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