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Cyrus Corp. inadvertently recorded a $5,000 betterment as an ordinary repair. Which of the following will occur as a result of this mistake? A. Net

Cyrus Corp. inadvertently recorded a $5,000 betterment as an ordinary repair. Which of the following will occur as a result of this mistake?

A.

Net income will be overstated by $5,000.

B.

Retained Earnings will be overstated by $5,000.

C.

Assets will be understated by $5,000.

D.

Assets will be overstated by $5,000.

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