71.Posting a part of a transaction to the wrong account will cause the trial balance totals to be unequal.
a.True
b.False
72.The erroneous arrangement of digits, such as writing $45 as $54, is called a slide.
a.True
b.False
73.Journalizing a transaction with both the debit and the credit for $69 instead of $96 will cause the trial balance to beout of balance.
a.True
b.False
74.The erroneous moving of an entire number one or more spaces to the right or left, such as writing $85 as $850, iscalled a transposition.
a.True
b.False
75.Accounts
a.do not reflect money amounts
b.are not used by entities that manufacture products
c.are records of increases and decreases in individual financial statement items
d.are only used by large entities with many transactions
76.Accounts are classified in the ledger
a.chronologically
b.alphabetically
c.in accordance with their appearance in the financial statements
d.with the accounts used most often listed first
77.Which of the following accounts is a stockholders' equity account?
a.Cash
b.Accounts Payable
c.Prepaid Insurance
d.Common Stock
78.The gross increases in stockholders' equity attributable to business activities are called
a.assets
b.liabilities
c.revenues
d.expenses
79.A chart of accounts is
a.the same as a balance sheet
b.usually a listing of accounts in alphabetical order
c.usually a listing of accounts in financial statement order
d.used in place of a ledger
80.The debit side of an account
a.depends on whether the account is an asset, liability, or stockholders' equity
b.can be either side of the account depending on how the accountant set up the system
c.is the right side of the account
d.is the left side of the account