CameraIcon

SearchIcon

MyQuestionIcon

3

You visited us 3 times! Enjoying our articles? Unlock Full Access!

Features of Incomplete Records

Narration is ...

Question

Narration is given along with journal entry _____________.

A

To signify the impact of entry on profitability

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

To disclose the profit or loss of the transaction.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

To give a precise explanation

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

To secretly understanding the inner meaning of entries

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is D To give a precise explanation
Narration in journal gives a precise information about the transaction.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Entry for transfer of Gross profit is :
Profit and Loss A/c Dr.
To Trading A/c

Q. What is the journal entry recorded, for the transfer of credit balance of Profit & Loss A/c, known as net profit ?

Q. Entry for transfer of gross loss is -
Trading A/c Dr.
To Profit and Loss A/c

Q. It is not possible to make a journal entry without a proper ___________ voucher which gives all details of an accounting transaction.

Q. A and B are partners in a firm sharing profits in the ratio of 4 : 1. They decided to share future profits in the ratio of 3 : 2 w.e.f. 1st April, 2019. On that day, Profit and Loss Account showed a debit balance of ₹ 1,00,000. Pass Journal entry to give effect to the above.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Finding Missing Figures ll

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Features of Incomplete Records

Standard XI Accountancy

Join BYJU'S Learning Program

CrossIcon