The preparation of source papers is the initial stage in the flow of accounting data. True is the response.
The required details for accounting data in given paragraph
A process known as the accounting cycle was developed to make it easier for business owners to keep track of the financial aspects of their operations.
The first four steps in the accounting cycle include identifying and evaluating transactions, documenting transactions in a journal, publishing journal data to a ledger, and creating an unadjusted trial balance.
Accounting's primary objective is to track and present a company's financial activities, financial results, and cash flows. The accuracy of financial statements is increased by accounting standards.
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