Ordinary repairs:
A) Are expenditures to keep an asset in normal operating condition.
B) Are necessary if an asset is to perform to expectations over its useful life.
C) Are treated as expenses.
D) Include cleaning, lubricating, and normal adjusting.
E) All of these.

Question

Quizplus · Accepted Answer

Ordinary repairs refer to routine or regular maintenance expenses incurred to keep an asset in normal operating condition. These repairs are necessary to ensure that an asset performs to expectations over its useful life and are treated as expenses. Examples of ordinary repairs include cleaning, lubricating, and normal adjusting. Therefore, all of the choices listed are correct.

Ordinary Repairs