What is the difference between an extraordinary repair and a betterment?

Question

Quizplus · Accepted Answer

An extraordinary repair may potentially extend the life of the asset, whereas a betterment is an improvement that does not necessarily extend the life of the asset but rather enhances its value or usefulness. Option A is incorrect because both extraordinary repairs and betterments may potentially extend the life of the asset. Option B is incorrect because both types of expenses may constitute a capital expenditure depending on the accounting treatment.

What Is the Difference Between an Extraordinary Repair and a Betterment