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Ordinary repairs are fairly small amounts and are referred to as revenue expenditures. Ordinary repairs are debited to an appropriate asset account when they increase
Ordinary repairs are fairly small amounts and are referred to as revenue expenditures. | |
Ordinary repairs are
| debited to an appropriate asset account when they increase useful life. |
| referred to as revenue expenditures. |
| debited to Accumulated Depreciation when they do not increase useful life. |
| costs incurred to increase the operating efficiency or useful life of a plant asset. |
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