Ordinary repairs are expenditures that keep assets in normal, good operating condition.

Question

Quizplus · Accepted Answer

Ordinary repairs are indeed expenditures that are necessary to keep assets in their normal, good operating condition. Examples of ordinary repairs might include things like fixing a leak in a roof or replacing worn-out components of a piece of machinery. These types of repairs are generally considered routine and necessary for the ongoing maintenance of an asset, as opposed to major overhauls or upgrades that might improve the asset's functionality or extend its useful life.

Ordinary Repairs Are Expenditures That Keep Assets in Normal, Good