Answer in one sentence only

1) What is Journal ?
Ans: . A journal is a book prepared to classify or sort out transactions in a form convenient for their subsequent entry in the ledger.

2) What is Narration ?
Ans: Narration is a brief explanation about the transaction.

3) What is GST ?
Ans: GST means Goods and Service Tax. GST is one nation, one tax, one market.

4) In which year GST was imposed by the Central Government of India ?
Ans: GST was imposed by the Central Government of India in the year 2017 (1st July 2017)

5) What is meant by simple entry ?
Ans: For a transaction, entry in which only two accounts are affected, one account is debited and the other account is credited, is known as simple entry.

6) What is the meaning of combined entry ?
Ans: A journal entry which contains more than one debit or more than one credit or both effects of a transaction is known as a combined/compound journal entry.

7) Which account is debited, when rent is paid by Debit card ?
Ans: Trade discount is not recorded in the books of account.

8) Which discount is not recorded in the books of account ?
Ans: Trade discount is not recorded in the books of account.

9) In which order monthly transactions are recorded in a Journal ?
Ans: In the order of their occurrence, monthly transactions are recorded in a journal.

10) Which account is credited, when goods are sold on credit ?
Ans: When goods are sold on credit, Sales account is credited.