A Lisp expression that you can evaluate is called a form. Evaluating a form always produces a result, which is a Lisp object. In the examples in this manual, this is indicated with ‘⇒’:
(car '(1 2))
⇒ 1
You can read this as “(car '(1 2)) evaluates to 1”.
When a form is a macro call, it expands into a new form for Lisp to evaluate. We show the result of the expansion with ‘→’. We may or may not show the result of the evaluation of the expanded form.
(third '(a b c))
→ (car (cdr (cdr '(a b c))))
⇒ c
To help describe one form, we sometimes show another form that produces identical results. The exact equivalence of two forms is indicated with ‘≡’.
(make-sparse-keymap) ≡ (list 'keymap)