Question: Overstating usefule and residual values when computing straight-line depreciation expense have which of the following effects on the income statement? depreciation expense will be lower

Overstating usefule and residual values when computing straight-line depreciation expense have which of the following effects on the income statement? depreciation expense will be lower and net income will be higher depreciation expense will be lower and net income will be lower depreciation expense will be higher and net income will be higher depreciation expense will be higher and net income will be lower

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