Explain the Following Rhyme

question 78

Essay

Explain the following rhyme:
Rainbow at morning,sailor take warning;
Rainbow at night,sailor's delight.​

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Definitions:

Normal Balance

The side of an account that is increased, which for assets, expenses, and dividends is the debit side, and for liabilities, equity, and revenue is the credit side.

Financial Statement

A documented account detailing the commercial operations and fiscal outcomes of an enterprise.

Normal Balance

The usual balance of an account based on its classification in the accounting system, typically debit for assets and expenses, and credit for liabilities, equity, and revenue.

Financial Statement

Formal records of the financial activities and position of a business, person, or other entity.