Morgan Shipping held cash of $1 million throughout 2020, a time period over which the general price level decreased. Morgan Shipping:     has more than $1 million of purchasing power at the end of the period.     has less than $1 million purchasing power at the end of the period.     must recognize the gain due to general price level increases in its income statement.     has the same $1 million purchasing power at the end of the period as at the beginning of the period.

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