Which of the following is/are not true regarding maintenance?
A)Maintenance includes routine costs such as for cleaning and adjusting.
B)Maintenance includes the costs of restoring an asset's service potential after breakdowns or other damage.
C)Maintenance does not extend the estimated service life or increase its productive capacity of an asset beyond original expectations.
D)U.S.GAAP and IFRS treat maintenance expenditures as expenses of the period when the firm makes the expenditure.
E)Distinguishing repairs from maintenance is difficult but typically not necessary because expenditures for both are period expenses.

Question

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The Answer of Which of the following is/are not true regarding maintenance?
A)Maintenance includes routine costs such as for cleaning and adjusting.
B)Maintenance includes the costs of restoring an asset's service potential after breakdowns or other damage.
C)Maintenance does not extend the estimated service life or increase its productive capacity of an asset beyond original expectations.
D)U.S.GAAP and IFRS treat maintenance expenditures as expenses of the period when the firm makes the expenditure.
E)Distinguishing repairs from maintenance is difficult but typically not necessary because expenditures for both are period expenses.

Which of the Following Is/are Not True Regarding Maintenance