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

Option a: Source document. A source document is the original record that captures the details of a business transaction (invoices, receipts, bills, etc.) and serves as the primary input for recording entries. This makes it the correct type of accounting record used in the recording stage.

Option b: Cash Flow Statement. The cash flow statement is a financial statement that summarizes cash inflows and outflows over a period. It is prepared after recording and posting, not used as a recording document itself, so this is incorrect for the recording stage.

Option c: Ledger account. A ledger account is part of the accounting records but it is a post-recording element where journal entries are posted. It represents the summarized balances after posting, so it is not used during the initial recording stage.

Option d: Balance sheet. The balance sheet is a financial statement listing assets, liabilities, and equity at a point in time. It is derived from the recording and posting processes, not used as a recording document itself, so this is incorrect for the recording stage.

Summary of reasoning: The recording stage relies on source documents to capture the details of each transaction before they are journalized and posted. The other options refer to statements or accounts that are produced later or used after recording has occurred, rather than serving as the initial recording records.

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

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