Which of the Following Is/are Not True Regarding Maintenance

question 34

Multiple Choice

Which of the following is/are not true regarding maintenance?

• A)Maintenance includes routine costs such as for cleaning and adjusting.
• B)Maintenance includes the costs of restoring an asset's service potential after breakdowns or other damage.
• C)Maintenance does not extend the estimated service life or increase its productive capacity of an asset beyond original expectations.
• D)U.S.GAAP and IFRS treat maintenance expenditures as expenses of the period when the firm makes the expenditure.
• E)Distinguishing repairs from maintenance is difficult but typically not necessary because expenditures for both are period expenses.

---

Definitions:

Freudian Stage

Refers to any of the phases in Sigmund Freud's theory of psychosexual development, where each stage is associated with a specific conflict that must be resolved for healthy psychological development.

Personality Development

The pattern of growth and change in an individual's personality traits and characteristics throughout life.

Unconscious

The part of the mind that contains thoughts, memories, and desires that are not accessible to conscious awareness.

Generativity

A term coined by Erik Erikson that refers to the concern for establishing and guiding the next generation.