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In Periods of Inflation, Accounting Depreciation Is __________ Relative to Replacement

Question 5

Multiple Choice

In periods of inflation, accounting depreciation is __________ relative to replacement cost, and real economic income is________.

A) overstated; overstated
B) overstated; understated
C) understated; overstated
D) understated; understated
E) correctly stated; correctly stated

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