Ordinary repairs and maintenance always:
A)are part of the asset cost of equipment and facilities.
B)are recorded as expenses.
C)are recorded as liabilities.
D)improve the asset beyond the current accounting period.

Question

Quizplus · Accepted Answer

Ordinary repairs and maintenance are recorded as expenses in the period in which they occur because they do not improve the asset beyond the current accounting period. They are considered routine operating expenses necessary to maintain the usefulness and expected life of the asset.

Ordinary Repairs and Maintenance Always