What is the first step in processing payments at a restaurant?

The correct answer is to present the bill, as this is a crucial initial step in the payment process at a restaurant. Presenting the bill formally informs the guest of the total charges incurred for their meal and is an essential part of ensuring transparency and clarity in the transaction. This step sets the stage for the subsequent actions that involve accepting payment and providing change or receipts.

Thanking the guest, while important for customer service, typically occurs at various points, including when initiating service or after receiving payment. Accepting payment comes after the bill has been presented, as guests need to see the total amount before they can decide how they would like to pay. Lastly, returning change or receipts is the concluding part of the payment process, which cannot happen until payment has been accepted. Thus, presenting the bill is indeed the first and pivotal step in the payment operation at a restaurant, effectively guiding the entire payment exchange.