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:

African Canadians

Individuals in Canada of African descent, encompassing a wide range of cultural, linguistic, and historical backgrounds.

Asian Canadians

Individuals in Canada of Asian descent, contributing to the country's cultural, economic, and social diversity.

Claiming An Ethnicity

The act of identifying with or asserting membership in a particular ethnic group, often involving the adoption of cultural traits and practices associated with that group.

Race

A socially constructed categorization of humans based on physical characteristics, ancestry, genetics, and social identity.