Difference of total of debit and credit side of the trial balance is transferred to

A. Suspense A/c

B. Difference A/c

C. P & L A/c

D. Trading A/c

Answer: Option A

Solution(By Examveda Team)

Difference of total of debit and credit side of the trial balance is transferred to Suspense A/c. Suspense accounts are used when your trial balance is out of balance or when you have an unidentified transaction. The suspense account is a general ledger account that acts as a holding account until the error is discovered or the unknown transaction is identified.