Question

(5) Which one is the first step of a business transaction?
(a) Identification of transactions
(b) Journal
(c) Voucher
(d) Ledger​

Answer 1

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Analyze and record transactions

The first step in the accounting cycle is gathering records of your business transactions—receipts, invoices, bank statements, things like that—for the current accounting period. This is the raw financial information that needs to be translated into something useful......♥

Answer 2

Answer:

Identification of transaction

Explanation:

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