Additions and Improvements

question 38

Multiple Choice

Additions and improvements

• A) occur frequently during the ownership of a long-lived asset.
• B) normally involve immaterial expenditures.
• C) increase the carrying amount of long-lived assets when incurred.
• D) typically only benefit the current accounting period.

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Definitions:

Time

The indefinite continued progress of existence and events in the past, present, and future regarded as a whole.

Affective Component

The emotional or feeling segment of an attitude, which influences individuals' feelings or emotions about an object, person, or event.

Behavioral Component

Pertains to the aspects of psychology that involve observable human actions and responses in various situations.

Attitude Object

An entity such as a product, brand, or service that evokes a positive or negative response from consumers.