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A company erroneously recorded cash purchases in the depreciation expense account when it was purchased. The financial statement impact of the error in the year

A company erroneously recorded cash purchases in the depreciation expense account when it was purchased. The financial statement impact of the error in the year of acquisition would be:

Can not determine from the available information

Understatement of liabilities

Understatement of net income

Understatement of assets

Overstatement of liabilities

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