Question 13 3 pts If a piece of equipment with a five-year life was purchased but the cost was inadvertently recorded as an expense, what would be a result of this error (assuming the error has not been found or corrected)? O Year one expenses would be overstated and year two expenses would be overstated. Year one expenses would be understated and year two expenses would be overstated. O Year one expenses would be understated and year two expenses would be understated. Year one expenses would be overstated and year two expenses would be understated