What is the function of a suspense account?
A: A device used to enable the production fo the financial statements, when required, despite the presence of errors.
B: A method of ensuring the trial balance will agree.
C: A way of focusing attention upon the corrective action required to ensure the trial balance does agree and the integrity of the accounting system is maintained.
D: A way of recording transaction when the ultimate accounting treatment required in unclear.
A: A device used to enable the production fo the financial statements, when required, despite the presence of errors.
B: A method of ensuring the trial balance will agree.
C: A way of focusing attention upon the corrective action required to ensure the trial balance does agree and the integrity of the accounting system is maintained.
D: A way of recording transaction when the ultimate accounting treatment required in unclear.
举一反三
- What is the specific order of the recording process? A: Journal, trial balance, financial statements, ledger, transaction documentation B: Transaction documentation, journal, ledger, trial balance, financial statements C: Transaction documentation, ledger, journal, trial balance, financial statements D: Trial balance, financial statements, ledger, journal, transaction documentation E: Ledger, journal, transaction documentation, trial balance, financial statements
- Notes to the financial statements are not required by the accounting principle.
- Which ONE of the following is NOT a reason for producing a trial balance? A: To help with the preparation of the financial statements B: To identify if there are any errors of principle C: To help summarise the accounting transactions to date D: To identify if there are any errors of single entry
- Notes to the financial statements are not required by the accounting principle. A: 正确 B: 错误
- Which TWO of the following are reasons for producing a trial balance? A: To check if certain errors have been made when recording transactions B: To provide a convenient basis for drafting the financial statements C: To ensure that all transactions have been recorded D: To check that all transactions have been accurately recorded