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Name: If acquisition of vehicle is recorded twice,a. asset is overstated.b.
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Description: If acquisition of vehicle is recorded twice,a. asset is overstated.b. expense is overstated.c. liability is understated.d. owner’s equity is not affected.

Business

Accounting

acquisition of vehicle is recorded twice, a. asset is overstated. b. expense is overstated. c. liability is understated. d. owner’s equity is not affected

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter12: Auditing Long-lived Assets And Merger And Acquisition Activity

Section: Chapter Questions

Problem 7CYBK

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