Question $7$ of $14$

Mosciski Corporation performed routine maintenance on its equipment. The costs were capitalized in $2023$ but should have been expensed.

Which of the following is true? $[5$ points$]$

Assets in $2023$ are understated.

Income in $2023$ is understated.

Assets in future years are overstated.

Assets in future years are understated.

All of the other answer choices are true.