Costs that maintain a plant asset in its present condition should be ________.Costs that restore a plant asset to working order or its prior condition should be ________.

Question

Quizplus · Accepted Answer

Costs that maintain a plant asset in its present condition are considered routine maintenance and should be expensed. Costs that restore a plant asset to working order or its prior condition are also considered repairs and should be expensed.

Costs That Maintain a Plant Asset in Its Present Condition