The Balances in the Liability and Revenue Accounts Are Increased

question 205

True/False

The balances in the liability and revenue accounts are increased with a credit.

---

Definitions:

Make to Stock

A production strategy where products are manufactured in anticipation of demand, based on forecasts, and stored in inventory.

Pull Manufacturing

A production strategy where work is only initiated as per demand, aiming to reduce inventory levels and increase efficiency.

Make to Order

is a manufacturing process in which production starts only after a customer's order is received.

Lead Times

The amount of time that passes from the initiation of a process to its completion.