In which step in the accounting process would a company find and sort data from all transactions related to the business?
A) analysis
B) reporting
C) summarization
D) classification
E) collection

Question

Quizplus · Accepted Answer

Collection is the step in the accounting process where a company finds and sorts data from all transactions related to the business. This involves gathering all relevant financial information before it can be analyzed, classified, summarized, and reported.

In Which Step in the Accounting Process Would a Company