Which of the following is an accounting record used during the recording stage of the accounting process?

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BlackTom AI · Accepted Answer

Question restated: The prompt asks which item is an accounting record used during the recording stage of the accounting process.
Option a: 'a. Source document' – This is correct because source documents (invoices, receipts, purchase orders, etc.) capture the original data about a transaction and serve as the initial records from which journal entries are prepared. They are fundamental to the recording stage.
Option b: 'b. Balance sheet' – The balance sheet is a financial statement that summarizes a company’s assets, liabilities, and equity at a point in time. It is produced after journal entries have been posted to the ledger, not used as a source document in the recording stage.
Option c: 'c. Ledger account' – Ledger accounts are part of the bookkeeping system where posted journal entries accumulate to show balances. They are a step later in the process, after initial recording from source documents, not the record used during recording itself.
Option d: 'd. Cash Flow Statement' – The cash flow statement reports cash inflows and outflows over a period and is prepared after adjustments from the ledger. It is a financial statement, not a recording record used in capturing the transaction data during the initial recording stage.
In summary, source documents provide the essential original evidence for recording transactions, while the balance sheet, ledger accounts, and cash flow statement are outputs or repositories that come into play after recording has occurred.

Which of the following is an accounting record used during the recording stage of the accounting process?

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