Which of the following statements concerning repair and maintenance expenditures is true? Multiple Choice O Routine repair costs and preventive maintenance expenditures are capitalized as assets in the period in which they are incurred. o For income tax purposes, most taxpayers would prefer to capitalize an expenditure and depreciate the aiset over time rather than expensing the expenditure and deducting the entire amount in the year it is incurred o Maintenance expenditures that extend the useful life and/or increase the salvage value of an asset should be capitalized and depreciated over the ascer's remaining useful life, All repair and maintenance expenditures are accounted for as expenses in the year in which they broncurred