Instructions: Please Define the Following Key Terms

question 13

Essay

Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
"match girls"

---

Definitions:

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.

Productive Asset

Assets that are used by a business to generate revenue, which can include physical property, equipment, and machinery, among other items.