Partner C invested equipment in the partnership that has a market value exceeding book value; the equipment was recorded at its book value. This error would cause: future period's net income to be understated. future period's net income to be overstated. this period's end assets to be overstated. None of these is correct. Question 16 2 pts Sherry and Jim entered into a partnership agreement. However, the agreement did not state how income and losses would be divided. The law states that income will be divided: equally, according to investments. according to abilities None of these answers is correct