Which of the Following Is Not True of Ordinary Repairs

Ordinary repairs represent revenue expenditures. They primarily benefit the current accounting period B.

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They maintain the expected productive life of the asset D.

. Its easier to figure out tough problems faster using Chegg Study. A They primarily benefit the current accounting period. Which of the following is not true of ordinary repairs.

B ordinary repairs are expenditures for routine maintenance and upkeep whereas extraordinary repairs increase an assets economic usefulness in the future through increased efficiency capacity or longer life. Kattyahto8 and 1 more users found this answer helpful. The paneling of the body of an open pickup truck would be classified as an.

Which of the following is a deductible expense for income tax purposes. They maintain the expected productive life of the asset D. C extraordinary repairs only maintain the asset for a short time whereas ordinary repairs increase the usefulness of assets beyond their.

Which of the following is not true of ordinary repairs. Ordinary and necessary expenses are categorized as such for income tax. They increase the productive capacity of the asset.

Ordinary repairs usually benefit only the period when such repairs are done. They primarily benefit the current accounting period. To be meaningful productivity needs to be compared with something else.

As the result ordinary repairs are expensed in the period incurred. Future economic benefits will arise from all of the following except a. They maintain the expected productive life of the asset is not tru regarding ordinary repairs because the ordinary repairs increase the capacity of the asset but not the life of the asset.

They maintain the expected productive life of the asset. Ordinary repair of the personal car c. Ordinary repairs are performed to maintain fixed assets in operating condition.

None of the above D A and B are personal expenses C is an unrealized loss. Expenses incurred by individuals for their business or primary employment. On a balance sheet natural resources may be described more specifically as all of the following except.

Which of the following is not true of ordinary repairs. Which of the following is not true of ordinary repairs. They increase the productive capacity of the asset.

Which of the following is not true of ordinary repairs. Ordinary repairs are maintenance items necessary to keep. Provision for doubtful accounts d.

Which of the following is not true of ordinary repairs. Multi-factor productivity measure looks at the ratio of all outputs to all. They can be referred to as revenue expenditures.

They primarily benefit the current accounting period. Productivity is a common measure of how well a country industry or business unit is using its resources. They maintain the expected productive life of the asset.

Unusually extensive maintenance work performed on a piece of machinery to increase its useful life by over a year. They primarily benefit the current accounting period. B They maintain the expected productive life of the asset.

Unlike static PDF Financial Accounting with Connect Plus 8th Edition solution manuals or printed answer keys our experts show you how to solve each problem step-by-step. Management might decide to replace the engine in the car instead. They increase the productive capacity of the asset.

Ordinary And Necessary Expenses - O NE. Examples of ordinary maintenance and repair activities include painting repairing plumbing adjusting and. They can be referred to as revenue expenditures.

They increase the productive capacity of the asset. Salaries of domestic servants b. A ordinary repairs cost less.

They maintain the expected productive life of the asset. They can be referred to as revenue expenditures C. C They can be referred to as revenue expenditures.

They increase the productive capacity of the asset. Unrealized gains and losses are not recognized for tax purposes. Assume after a few years the company car has a problem with the engine and there isnt enough room in the budget to replace the car with a new car.

7_Property plant and equipment and related accounts Theory of Accounts 10. The amount of ordinary repair capitalized to the building does not affect the total liabilities at the end of the current year. A repair that isnt considered an ordinary repair to this company vehicle is an engine replacement.

D They increase the productive capacity of the asset. They increase the productive capacity of.

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