Balance Sheet Accounts Are Also Called

question 5

Multiple Choice

Balance Sheet accounts are also called:

• A)equity accounts
• B)temporary accounts
• C)permanent accounts
• D)None of the above

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Definitions:

Direct Materials

Raw materials that can be directly traced to the production of goods in the manufacturing process.

Lean Manufacturing

A methodical procedure designed to cut down on waste in a factory setup without reducing work efficiency.

Manufacturing Cells

Groups of machines and/or workstations arranged closely together to manufacture similar products or components, enhancing production efficiency and flexibility.

Cost Of Production Report

A document detailing the total costs involved in manufacturing goods, including materials, labor, and overhead costs, usually within a specific period.