What task would be a part of the first step in the accounting process?
A) recording all single-entry transactions in the ledger
B) completing the acid-test ratio
C) gathering all invoices and receipts
D) preparing a trial balance
E) analyzing the statement of cash flows

Question

Quizplus · Accepted Answer

Gathering all invoices and receipts is part of the first step in the accounting process, which involves collecting and verifying financial information. This is essential before any recording or analysis can begin.

What Task Would Be a Part of the First Step