Capital expenditures are not immediately expensed because these items: return an asset to its prior condition. increase the asset's capacity. do not extend the life of an asset. All of the above. Which of the following is a characteristic of a general partnership? A partnership is not taxed on the partnership's business income. The owners of a partnership have limited liability for the partnership's debts. A partnership has an unlimited life. All of the above are characteristics of a general partnership. Depreciation expense is: subtracted from the investing activities on a statement of cash flows. added to net income on a statement of cash flows, since it decreases net income but does not involve an outflow of cash. subtracted from net income on a statement of cash flows, since it decreases net income but does not involve an outflow of cash. added to the investing activities on a statement of cash flows. A company with net sales of $1, 642, 500, a beginning balance of net receivables of $187, 500, and an ending balance of net receivables of $235, 500 has a days sales in receivables of (rounded): 42 days. 56 days. 47 days. 52 days