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16.lf a capital expenditure is mistakenly recorded as an expense, the effect is to Understate net income and owner's equity. And overstate assets Overstate net
16.lf a capital expenditure is mistakenly recorded as an expense, the effect is to Understate net income and owner's equity. And overstate assets Overstate net income and owner's equity and understate assets Understate net income and overstate liabilities None of the above POP\
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