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Narration is given along with journal entry:
- a)To signify the impact of entry on profitability.
- b)To disclose the profit or loss of the transaction.
- c)To give a precise explanation for proper understanding of the entry.
- d)To secretly understanding the inner meaning of entries.
Correct answer is 'C'. Can you explain this answer?
Most Upvoted Answer
Narration is given along with journal entry:a)To signify the impact of...
Explanation of answer:
The correct answer is 'C'. Let's understand each option in more detail.
a) To signify the impact of entry on profitability:
Narration is used to explain the transaction, but it doesn't signify the impact of the entry on profitability. The narration only explains the nature of the transaction, not its effect on profitability.
b) To disclose the profit or loss of the transaction:
Narration is used to explain the transaction, but it doesn't disclose the profit or loss of the transaction. Profit or loss is calculated by comparing the revenues generated from the transaction to the costs incurred in the transaction.
c) To give a precise explanation for proper understanding of the entry:
This is the correct answer. Narration is provided to give a precise explanation of the transaction, which helps in understanding the entry properly. It explains the nature of the transaction, the parties involved, the amount involved, and any other relevant details.
d) To secretly understanding the inner meaning of entries:
Narration is not used to secretly understand the inner meaning of entries. The entry itself should be clear and transparent, without any hidden meanings or agendas.
In conclusion, narration is used to give a precise explanation for proper understanding of the entry. It is a crucial part of accounting as it helps in understanding the transactions and entries made in the books of accounts.
The correct answer is 'C'. Let's understand each option in more detail.
a) To signify the impact of entry on profitability:
Narration is used to explain the transaction, but it doesn't signify the impact of the entry on profitability. The narration only explains the nature of the transaction, not its effect on profitability.
b) To disclose the profit or loss of the transaction:
Narration is used to explain the transaction, but it doesn't disclose the profit or loss of the transaction. Profit or loss is calculated by comparing the revenues generated from the transaction to the costs incurred in the transaction.
c) To give a precise explanation for proper understanding of the entry:
This is the correct answer. Narration is provided to give a precise explanation of the transaction, which helps in understanding the entry properly. It explains the nature of the transaction, the parties involved, the amount involved, and any other relevant details.
d) To secretly understanding the inner meaning of entries:
Narration is not used to secretly understand the inner meaning of entries. The entry itself should be clear and transparent, without any hidden meanings or agendas.
In conclusion, narration is used to give a precise explanation for proper understanding of the entry. It is a crucial part of accounting as it helps in understanding the transactions and entries made in the books of accounts.
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Narration is given along with journal entry:a)To signify the impact of...
Importance of Journal
It maintains the detailed record of transactions in the form of narration, written immediately after passing the entry hence is provides a highlight of the transaction done. Because the transactions are recorded in chronological order it is useful for easy reference in the future.it helps understanding entries simply.
It maintains the detailed record of transactions in the form of narration, written immediately after passing the entry hence is provides a highlight of the transaction done. Because the transactions are recorded in chronological order it is useful for easy reference in the future.it helps understanding entries simply.
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Narration is given along with journal entry:a)To signify the impact of entry on profitability.b)To disclose the profit or loss of the transaction.c)To give a precise explanation for proper understanding of the entry.d)To secretly understanding the inner meaning of entries.Correct answer is 'C'. Can you explain this answer?
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Narration is given along with journal entry:a)To signify the impact of entry on profitability.b)To disclose the profit or loss of the transaction.c)To give a precise explanation for proper understanding of the entry.d)To secretly understanding the inner meaning of entries.Correct answer is 'C'. Can you explain this answer? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Narration is given along with journal entry:a)To signify the impact of entry on profitability.b)To disclose the profit or loss of the transaction.c)To give a precise explanation for proper understanding of the entry.d)To secretly understanding the inner meaning of entries.Correct answer is 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Narration is given along with journal entry:a)To signify the impact of entry on profitability.b)To disclose the profit or loss of the transaction.c)To give a precise explanation for proper understanding of the entry.d)To secretly understanding the inner meaning of entries.Correct answer is 'C'. Can you explain this answer?.
Narration is given along with journal entry:a)To signify the impact of entry on profitability.b)To disclose the profit or loss of the transaction.c)To give a precise explanation for proper understanding of the entry.d)To secretly understanding the inner meaning of entries.Correct answer is 'C'. Can you explain this answer? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Narration is given along with journal entry:a)To signify the impact of entry on profitability.b)To disclose the profit or loss of the transaction.c)To give a precise explanation for proper understanding of the entry.d)To secretly understanding the inner meaning of entries.Correct answer is 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Narration is given along with journal entry:a)To signify the impact of entry on profitability.b)To disclose the profit or loss of the transaction.c)To give a precise explanation for proper understanding of the entry.d)To secretly understanding the inner meaning of entries.Correct answer is 'C'. Can you explain this answer?.
Solutions for Narration is given along with journal entry:a)To signify the impact of entry on profitability.b)To disclose the profit or loss of the transaction.c)To give a precise explanation for proper understanding of the entry.d)To secretly understanding the inner meaning of entries.Correct answer is 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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Narration is given along with journal entry:a)To signify the impact of entry on profitability.b)To disclose the profit or loss of the transaction.c)To give a precise explanation for proper understanding of the entry.d)To secretly understanding the inner meaning of entries.Correct answer is 'C'. Can you explain this answer?, a detailed solution for Narration is given along with journal entry:a)To signify the impact of entry on profitability.b)To disclose the profit or loss of the transaction.c)To give a precise explanation for proper understanding of the entry.d)To secretly understanding the inner meaning of entries.Correct answer is 'C'. Can you explain this answer? has been provided alongside types of Narration is given along with journal entry:a)To signify the impact of entry on profitability.b)To disclose the profit or loss of the transaction.c)To give a precise explanation for proper understanding of the entry.d)To secretly understanding the inner meaning of entries.Correct answer is 'C'. Can you explain this answer? theory, EduRev gives you an
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