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sampathawaduge sameerasampathawaduge sameera 

What is the exact use of record name and type when creating a custom object?

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Best Answer chosen by sampathawaduge sameera
SandhyaSandhya (Salesforce Developers) 
Hi,

Record Name :
The name used in page layouts, list views, related lists, and search results.
Data Type :The type of field (text or auto-number) for the record name. Records that have unique IDs instead of names are auto-numbered and always a read-only field.

Please refer help article to know more.
https://help.salesforce.com/articleView?id=dev_objectcreate.htm&type=5

If this helps you, please mark it as solved so that It will make it available for other as the proper solution.
 

Best Regards,
Sandhya