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Receipts and Payments Account

Narration is ...

Question

Narration is not necessary in ledger.

A

True

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B

False

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Solution

The correct option is A True
Narration
A short explanation of each transaction is written under each entry which is called narration.
Narration is not required in ledger, whereas it is required in a Journal.
It is the brief explanation that provides the details of Journal entry and helps understand the account debited or credited. Journal entries are posted to the ledger accounts.
Thus,narration is not necessary in ledger.

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Similar questions

Q. State whether the following statements are ‘True or False”.

1) Ledger is known as the book of original entry.
2) Narration is not necessary in ledger.
3) All accounts are closed down at the end of the accounting year.
4) Recording of a transaction in Journal is called posting.
5) Balance of personal account is brought down for the next year.
6) All transactions are recorded directly in ledger.
7) Ledger Folio and index is necessary for ledger.
8) Ledger posting is not necessary for Journal Proper.
9) Ledger Folio is recorded in Journal.
10) Ledger posting is made before passing Journal entry.

Q. Narration is not necessary for each and every journal entry.

Q. Ledger posting is not necessary for journal proper.

Q. Ledger Folio and index is necessary for ledger.

Q. Two angles can have exactly five points in common.

True
False

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