The first step in the recording process is to

Name: The first step in the recording process is to
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Analyzing each transaction for its effect on the accounts is the first step in the recording process. This involves determining which accounts are affected and how they are affected (i.e., whether the account is debited or credited). This information is then used to post to the relevant accounts in the journal and ultimately prepare financial statements and a trial balance.

The First Step in the Recording Process Is to