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A request by an authorised employee for goods or services is made on the:
Long-Lived Asset
Assets with a useful life extending beyond one year, typically including property, plant, and equipment, and used in the operation of a business.
Productive Life
The expected period during which an asset is able to provide economic benefits or contribute to revenue generation.
Ordinary Repairs
Ordinary repairs are routine maintenance expenses undertaken to maintain the efficiency and operating condition of an asset but do not significantly extend its life.
Maintenance Costs
Expenses incurred to keep property, equipment, or machinery in efficient operating condition and repair.
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