One of the mysteries of the English language finally explained.
An account in the books of an organization in which items are entered temporarily before allocation to the correct or final account.
- ‘Now the contract has been completed and the original contractor has since been paid, but the contract balance of US $38 million has been left in a suspense account with the Central Bank of Nigeria.’
- ‘However, plans frequently fail to allocate their suspense accounts in accordance with their plan documents prior to the merger.’
- ‘Ngqwala said that detailed reconciliations of balances on suspense accounts could not be furnished by the office.’
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