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A & M Specialties is a cash-basis company. The purchase of fixed assets results in A & M never recording depreciation expense. As a result,
A & M Specialties is a cash-basis company. The purchase of fixed assets results in A & M never recording depreciation expense. As a result, in the year of acquisition, ________ will be ________. A : stockholders equity, overstated B : expenses, understated C : assets, overstated D : net income, understated
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