Multiple Choice
The main difference between ordinary repairs and extraordinary repairs is:
A) ordinary repairs cost less.
B) ordinary repairs are expenditures for routine maintenance and upkeep,whereas extraordinary repairs increase an asset economic usefulness in the future through increased efficiency,capacity,or longer life.
C) extraordinary repairs only maintain the asset for a short time,whereas ordinary repairs increase the usefulness of assets beyond their original condition.
D) extraordinary repairs are expenses,not expenditures.
Correct Answer:

Verified
Correct Answer:
Verified
Q56: At the beginning of 2019,your company buys
Q57: Match the term and the explanation.Not all
Q58: How does an asset impairment loss impact
Q59: A company sells a long-lived asset that
Q61: If a company buys a piece of
Q62: Ski Lodge Inc.purchased a building for $20
Q63: The Gulp convenience store chain buys new
Q64: Assuming no additions,replacements,or extraordinary repairs,the carrying value
Q65: Intangible assets are not adjusted for asset
Q250: If net sales revenue and the average