As a first step in the accounting cycle, ________ involves the recording of business transactions.
A) marketing
B) bookkeeping
C) auditing
D) economics

Question

Quizplus · Accepted Answer

Bookkeeping is the first step in the accounting cycle and involves recording all of the business transactions. Marketing is focused on promoting and selling products or services, while auditing is a process of reviewing financial records to ensure that they are accurate and comply with relevant laws and regulations. Economics is the study of how societies allocate resources and make decisions about production and consumption.

As a First Step in the Accounting Cycle, ________ Involves