If a company expeinses, costs thar shoulid be capitahized, how are their financlal statements for the eurtent pertiod inpected?\ Mumple choice\ Assets are overstated and Net income is overstated.\ Assets are understated and Net income is understated.\ Assets are understated and Expenses are understated.\ Assets are overstated and Equity is overstated.

Enabled: FA23 Exam 3 (Chapters If a company expenses costs that should be capitalized, how are their financial statements for the current period impacted? Multiple Choice Assets are overstated and Net income is overstated. Assets are understated and Net income is understated. Assets are understated and Expenses are understated. Assets are overstated and Equity is overstated.