Question Completion Status: QUESTION 8 During 2019, Wolverhampton Wanderers Inc paid $1 million in cash for ordinary maintenance expenses. It improperly capitalized this amount. As a result of this error O A Cash flow from operations is not affected B.Net income is understated Leverage (total liabilities/total assets) is understated. OD. All of the above E. None of the above QUESTION 9 Liverpool Inc. purchased machinery for $32,000. The machinery was later sold for $18,000. Liverpool had already recorded depreciation of $10,000 associated with this machinery. The fair value of the machinery at the date of sale was $19,000. What is the amount of Liverpool's gain loss on disposal? A $2,000 gain B. $2,000 loss C $3,000 loss D $3,000 gain E $18,000 gain QUESTION 10 Save Al Answe Click Save and Submit to save and submit. Click Save All Answers to see all and 0 B 03. ] e PA