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The accountant of Residential Architectural Services failed to make an adjusting entry to record $7,000 of depreciation expense. Which of the following statements is true?

The accountant of Residential Architectural Services failed to make an adjusting entry to record $7,000 of depreciation expense. Which of the following statements is true? Question content area bottom Part 1 A. The equity will be understated. B. The total assets will be understated. C. The total liabilities will be overstated. D. The total assets will be overstated

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