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A company buys a building for 1 million dollars. Which of the following is true? (can choose multiple) a) Long-term assets will increase when purchased?

A company buys a building for 1 million dollars. Which of the following is true? (can choose multiple)

a) Long-term assets will increase when purchased?

b) Expenses will increase on the date of purchase

c) The cost of building will be recorded as an expense over its estimated useful life

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