Classy Cooks Did a Major Overhaul of Their Ovens, Which

question 75

Multiple Choice

Classy Cooks did a major overhaul of their ovens, which extended the useful life of the ovens by 4 years. The journal entry to record this included a debit to repairs expense. This entry is:

• A)incorrect, and as a result assets will be overstated.
• B)correct, as this is an example of an ordinary repair.
• C)incorrect, and as a result net income will be understated.
• D)correct, as this is an example of a betterment.

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Definitions:

Frequency

The rate at which a repeating event occurs, such as the number of occurrences within a defined time period.

Amplitude

The height or intensity of a wave, indicating the strength or level of a signal, sound, or other phenomenon.

Complexity

Referring to the state or quality of being intricate or complicated, often involving numerous interdependent parts or elements.

Purity

The state or quality of being pure, free from contaminants, or possessing a single, unmixed element or nature.