Expenditures Capitalized as Long-Lived Assets Generally Include Those Expenditures That

question 32

Multiple Choice

Expenditures capitalized as long-lived assets generally include those expenditures that:

• A)are made for normal repairs to maintain the usefulness of the asset over a number of years.
• B)are for items that have a physical life of more than a year, regardless of their cost.
• C)are material in amount and that have an economic benefit to the entity only in the current year.
• D)are material in amount and that have an economic benefit to the entity that extends beyond the current year.