Ordinary Repairs and Maintenance

question 137

Multiple Choice

Ordinary repairs and maintenance:

• A)are part of the asset cost of equipment and facilities.
• B)are recorded as expenses when the dollar amount is material.
• C)are always recorded as liabilities.
• D)improve the asset beyond the current accounting period.

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Definitions:

White Collar

Referring to jobs typically performed in an office or other professional settings, often associated with mental rather than physical labor.

Absenteeism

The habit or practice of regularly staying away from work or school without good reason, often affecting productivity and efficiency.

Equipment Operators

Individuals trained to handle, operate, and manage specialized machinery or equipment for various industries, including healthcare, construction, and transportation.

Early 1990s

A period marked by significant global political changes, technological advancements, and cultural shifts, roughly spanning the years 1990 to 1994.