Revenue Expenditures to Keep an Asset in Normal, Good Operating

question 63

Short Answer

Revenue expenditures to keep an asset in normal, good operating condition; they are necessary if an asset is to perform to expectations over its useful life are called ________.

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Definitions:

Evict

The legal process by which a landlord removes or forcibly ejects a tenant from rental property, typically due to violation of a rental agreement.

Pay the Rent

The act of compensating a landlord for the use of their property.

Violation of the Lease

An act of failing to comply with the terms set forth in a lease agreement.

Future Interest

A legal right to property or an estate that becomes possessible or enjoyable at a future date.