Yes, that's the way things normally work - although, as Erik says, some tools do combine the steps.

Think how much time you could've saved by doing that check in the first place!

Note that "compiling" is what a compiler does - compilers compile high-level languages such as 'C' into Object code;
"assembling" is what an assembler does - assemblers assemble low-level assembly code into Object code;
Linking (& Locating) is what a Linker (& Locator) does - Linker/Locators take the Object code outputs from Assemblers and Compilers, Link them together and then locate everything to the absolute memory addresses for the target.

The overall process (compiling, assembling, linking, locating) is known as Building


Yes, that is precisely what it is showing you!


See the description (above) of the Build process.
The Linker receives the output of the assembler - it knows nothing about source code.

This illustrates why it is important that you understand the build process!