Narration is not required for each and every entry.
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Answer
This statement is False. Correct statement: Narration is required for each and every entry. Reasons: Narration is a brief explanation of the Journal Entry. It is written in the bracket just below the accounting entry. By reading the narration, the reader understands the meaning and significance of accounting entry and the nature and type of business transactions. Narration should be as short as possible and it should be simple and easy to understand.
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