Under IFRS, which of the following must be expensed?

Name: Under IFRS, which of the following must be expensed?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Under IFRS, maintenance, repairs, and rearrangements must be expensed as they are considered to be routine or ongoing expenses for the maintenance of the asset's operating condition. However, if the asset is improved or its useful life is extended, then the cost of such improvements or extensions should be capitalized and amortized over the asset's remaining useful life.

Under IFRS, Which of the Following Must Be Expensed