suspense account

Definition

Temporary account (one not included in financial statements) created to record (1) disbursements or receipts associated with yet-unconcluded transactions until their conclusion, or (2) discrepancies between totals of other accounts until their rectification or correct classification.


suspense account is...

... in the Accounting & Auditing subject.

Nearby Terms

Search volume for suspense account

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z