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A purchase of fixed assets was debited to the purchases account.

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A purchase of fixed assets was debited to the purchases account.

This resulted in:

A.

An overstatement of profit and an overstatement of fixed assets

B.

An overstatement of profit and an understatement of fixed assets

C.

An understatement of profit and an overstatement of fixed assets

D.

An understatement of profit and an understatement of fixed assets

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Refer to the Exhibit.
Which one of the following is not an example of an intangible asset?
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TESTED 06 Aug 2025