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True or False 1-Costs that do not improve the usability of an asset are reported as an expense 2-Extraordinary repairs enhance the asset's useful life
True or False
1-Costs that do not improve the usability of an asset are reported as an expense
2-Extraordinary repairs enhance the asset's useful life and are reported as fixed asset account increases
3-Capitalized expenditures for asset upgrades are recognized as reductions in the cumulative depreciation account
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