1a. Revenue expenditures:

Group of answer choices

All of the answer choices provided are correct.

Are additional costs of plant assets that do not materially increase the asset's life or its productive capabilities.

Substantially benefit future periods.

Are known as balance sheet expenditures because they relate to plant assets.

Are debited to revenue when incurred.

1b.

Consider the following accounts which we have utilized this semester. How many of the accounts listed below would be considered permanent?

(i) Unearned Consulting Revenue

(ii) Depreciation Expense

(iii) Sales Returns & Allowances

(iv) Accumulated Depreciation

(v) Allowance for Doubtful Accounts

Group of answer choices

1

4

5

2

3