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What will be the result for failing to record the year-end adjustment for depreciation? An overstatement of income and an understatement of equity. An overstatement

What will be the result for failing to record the year-end adjustment for depreciation?

An overstatement of income and an understatement of equity.

An overstatement of income and an understatement of assets.

An overstatement of income and an overstatement of assets.

An understatement of income and an overstatement of equity.

An understatement of income and an understatement of equity.

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