The Primary Difference Between Ordinary and Extraordinary Repairs Is That

question 161

Multiple Choice

The primary difference between ordinary and extraordinary repairs is that extraordinary repairs

• A)are an expense of the current period.
• B)are periodic in nature.
• C)are necessary to maintain the asset in good operational condition.
• D)extend the useful life or increase the residual value of the asset.

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Definitions:

Parent Class

In object-oriented programming, a class from which another class (the child class) inherits properties and methods.

Derived Class

In object-oriented programming, a class that inherits properties and behaviors from one or more base classes.

Derived Class

In object-oriented programming, a class that inherits properties and behavior from a base class while possibly adding or overriding features.

Child Class

A class in object-oriented programming that inherits properties and behavior from a parent class, also known as a subclass.