1 If the two totals of a trial balance do not agree, the difference must be entered in (A) The profit and loss account (B) A suspense account (C) A nominal account (D) The capital account. 2 What...

1

If the two totals of a trial balance do
not
agree, the difference must be entered in

(A) The profit and loss account

(B) A suspense account

(C) A nominal account

(D) The capital account.

2

What should happen if the balance on a suspense account is of a material amount?

(A) Should be written off to the balance sheet

(B) Carry forward the balance to the next period

(C) Find the error(s) before publishing the final accounts

(D) Write it off to profit and loss.