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1. Which of the following accounts does NOT have a contra asset account associated with it? a. Land b. Buildings c. Store Equipment d. Office

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1. Which of the following accounts does NOT have a contra asset account associated with it? a. Land b. Buildings c. Store Equipment d. Office Equipment 2. If depreciation is not adjusted, which of the following would occur? a. Assets and expenses would be overstated. b. Assets and expenses would be understated. c. Net income would be overstated, and expenses would be understated. d. Net income would be understated, and stockholders' equity would be overstated

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