Question

1.Explain the meaning of double entry system.

2.What is a narration?

3.What isa loose-leaf- leadger.
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Answer 1

Answer:

1)Double-entry refers to an accounting concept whereby assets = liabilities + owners' equity. In the double-entry system, transactions are recorded in terms of debits and credits

2)Narration is the use of a written or spoken commentary to convey a story to an audience. Narration is conveyed by a narrator: a specific person or unspecified literary voice, developed by the creator of the story, to deliver information to the audience, particularly about the plot (the series of events).

3)Loose leaf" describes any kind of paper or book that is available in single sheets, unbound. Its "leaves", or sheets, are "loose" and not bound in notebook or book form. ... A punched sheet of paper can be inserted into a ring binder, removed for separate use, and then returned to the binder.

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