Increases in Liability Accounts Are Recorded as Debits

question 198

True/False

Increases in liability accounts are recorded as debits.

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Definitions:

Kilos

A unit of measure equivalent to 1000 grams or approximately 2.20462 pounds, often used for measuring weight.

Raw Material

Raw material refers to the basic, untreated resources that are used in the manufacturing process to produce finished goods.

Raw Materials Inventory

The total cost of all raw materials that are yet to be used in production.

Gallons

A unit of volume measurement used primarily in the United States to quantify liquids.