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Tuna Co. purchased a building in 2015 for $650,000 and debited an asset called Buildings for the entire amount. The company never depreciated the building

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Tuna Co. purchased a building in 2015 for $650,000 and debited an asset called "Buildings" for the entire amount. The company never depreciated the building although it had a useful life of 15 years. At the end of 2015, this action will cause: 2, a,) Net income to be understated. b. Total assets to be overstated. c. Net income will not be affected. d. Total assets will be understated

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