A Business Generally Has Fewer Liability Accounts Than Asset Accounts

question 138

True/False

A business generally has fewer liability accounts than asset accounts.

---

Definitions:

Inbound Logistics

The activities related to receiving, storing, and distributing inputs internally needed for the production of goods or services.

Outbound Logistics

The process involved in moving products from the production facility to the end user or intermediary, such as transportation and warehousing.

Procurement

The process of obtaining goods or services, typically for business purposes, including selection, negotiation, and acquisition.