12

3.45 pts Question 12 In connection with a piece of equipment, if a company expenses a cost that should have been capitalized, the effect would be: Expenses and equipment Casseti will be overstated in the year of the error. Expenses and equipment Casset) will be understated in the year of the error, Expenses will be overstated and equipment (asset) will be understated in the year of the error. Expenses will be understated and equipment Casset) will be overstated in the year of the error