An item of capital expenditure has been recorded as revenue expenditure. What effect does this have on non-current assets and on the loss for the year?
- Anon-current assets: overstated; loss for the year: overstated
- Bnon-current assets: overstated; loss for the year: understated
- Cnon-current assets: understated; loss for the year: overstated
- Dnon-current assets: understated; loss for the year: understated