Repair work that generates a capital expenditure because it extends the plant asset's useful life past the normal expected life is known as an extraordinary repair.

Name: Repair work that generates a capital expenditure because it extends the plant asset's useful life past the normal expected life is known as an extraordinary repair.
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Question

Quizplus · Accepted Answer

An extraordinary repair is a capital expenditure because it adds value and extends the useful life of the plant asset beyond its expected life.

Repair Work That Generates a Capital Expenditure Because It Extends