Can the expression "there it is" be used with the meaning of "Oh, now I understand what you were talking about!" or "Oh, now I see what the problem was"?
Also, what are the alternative meanings of "there it is"? (Beside an exclamation that I have found something I was looking for).
Best Answer
When saying "there it is," a person usually means that something being sought for has at last been found, as the question notes. Most often, that something is a concrete, tangible object:
Or
However, the sought after subject can also be a more abstract or figurative thing, such as comprehension. The question also mentions this.
In this case, the response is often given in a drawn-out, almost sing-song voice: Oooooooh, therrrrre iit iiiiis.
One additional meaning expresses that a speaker or writer has just laid out a detailed explanation, and is providing a summary.
Finally, a meaning given by Collins and Oxford says that "this is the state of affairs, this is the situation." In other words, whether one likes it or not, and there is nothing one can do to change it.