Question 84 1 pts Users of accounting information include investors, creditors, and regulatory bodies. True False Question 76 1 pts If the credit amount of an entry to record the payment of salaries was not posted: assets would be overstated and owners' equity would be overstated. liabilities would be understated and owners' equity would be overstated. expenses would be understated and owners' equity would be understated. there would be no effect on stockholders' equity. Question 77 1 pts If the total debits and the total credits of a trial balance are not equal, the error could be due to: forgetting to record a transaction. recording both the debit and credit of the journal entry for the same incorrect amount recording the same transaction twice. an error in determining an account balance. Question 74 1 pts If the debit amount of an entry to record the purchase of supplies on account was not posted: liabilities would be understated. assets would be overstated. assets would be understated. liabilities would be overstated. Question 75 1 pts A trial balance showed total debits of $540,000 and total credits of $450,000. This discrepancy is most likely due to which type of error? Mislabeling Transposition Slide Failure to post a transaction The normal balance for any account is always the side of the account (debit or credit) where the largest amount is found. True False Question 72 1 pts The T-account is a tool for visualizing business transactions and usually can be easily prepared. True False Question 73 1 pts The trial balance is used to determine whether: total debits equal total credits total increases in accounts equal total decreases in accounts total assets equal total liabilities. total revenues plus gains equal total expenses plus losses