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    Business
  3. Study Set
    Fundamental Financial Accounting Concepts Study Set 1
  4. Exam
    Exam 8: Accounting for Long-Term Operational Assets
  5. Question
    A Substantial Amount Spent to Improve the Quality or Extend
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A Substantial Amount Spent to Improve the Quality or Extend

Question 3

Question 3

True/False

A substantial amount spent to improve the quality or extend the life of a long-term asset is called a revenue expenditure.

Correct Answer:

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