If the purchase of equipment assets is treated as an expense then: a. Expenses are overstated and
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Question:
If the purchase of equipment assets is treated as an expense then:
a. Expenses are overstated and owners equity is understated
b. Expenses are overstated and assets are overstated
c. Expenses are understated and owners equity is overstated
d. Expenses are overstated and revenues are understated
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