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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Suppose you roll a pair of dice.Let A be the event that you observe an even number.Let B be the event that you observe a number greater than seven.
-What is ∪
?
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.
Residual Value
The estimated amount that an asset is expected to realize upon the end of its useful life after all depreciation or amortization has been accounted for.
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