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Kline Company failed to record depreciation of equipment. How does this omission affect Kline's financial statements? A . Net income is understated and assets are

Kline Company failed to record depreciation of equipment. How does this omission affect Kline's
financial statements?
A. Net income is understated and assets are overstated.
B. Net income is overstated and assets are understated.
C. Net income is overstated and assets are overstated.
D. Net income is understated and assets are understated.
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