Accounting Question:
Download Job Interview Questions and Answers PDF
What is meant by balancing?
Answer:
Balancing means equalizing debit and credit side totals in a T-account.
If there is a deficit on side that is, debit, or credit a suspense account is opened with the balancing figure.
If there is a deficit on side that is, debit, or credit a suspense account is opened with the balancing figure.
Download Accounting Interview Questions And Answers
PDF
| Previous Question | Next Question |
| What is shadow balance? | What is the difference between inactive accounts and dormant account? |