To Be Capitalized,an Expenditure Must ________

question 94

Multiple Choice

To be capitalized,an expenditure must ________.

• A)extend the useful life of a long-term asset
• B)enhance the operating efficiency of a long-term asset
• C)be reasonable and necessary to put a long-term asset into a working condition
• D)all of these

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Definitions:

Group Norm

Accepted standards and behaviors that are expected and upheld by members of a specific group or culture.

Consensus

General agreement among a group or community, often used as a standard of decision-making and acceptance within a group.

Distinctive

Having a unique quality, characteristic, or feature that distinguishes someone or something from others.

Attribution

The process of assigning a cause to our own behavior, and that of others.