Question 1 1. Q: Expenditure for which of the following activities should be capitalized as an improvement to PP&E? A. Changing the oil on a vehicle B. Repairing a broken value on a machine C. Performing a required monthly check of a computer-controlled machine D. None of the above answers 1 points

Question 2 1. Q: A college sports team offers season tickets priced at $50 each, which entitle subscribers to attend all 5 home games. Before the season starts, the team sells 500 season tickets. What is the team's unearned revenue liability AFTER playing the first game? A. 7,500 B. 5,000 C. 20,000 D. 25,000 1 points

Question 3 1. Q: When a company sells accounts receivable to a factor, which of the following is NOT true? A. The company is no longer responsible for collecting cash from customers. B. The company credits its A/R balance for the face value of the receivables sold to the factor. C. The company receives the full face value of the sold A/R in cash from the factor. D. The company recognizes an expense for the fee charged by the factor.