The primary difference between ordinary repairs and extraordinary repairs is:
A)ordinary repairs cost less.
B)ordinary repairs are expenditures for routine maintenance and upkeep,whereas extraordinary repairs increase an assets economic usefulness in the future through increased efficiency,capacity,or longer life.
C)extraordinary repairs only maintain the asset for a short time,whereas ordinary repairs increase the usefulness of assets beyond their original condition.
D)extraordinary repairs are expenditures,not expenses.

Question

Quizplus · Accepted Answer

Ordinary repairs and maintenance are expenditures for routine operating upkeep of long-lived assets;they are recorded as expenses.In contrast to ordinary repairs and maintenance,extraordinary repairs occur infrequently,involve large expenditures,and increase an asset's usefulness through enhanced efficiency,capacity,or lifespan.

The Primary Difference Between Ordinary Repairs and Extraordinary Repairs Is