Which of the following statements is NOT true?

Multiple Choice

• The cost to assemble a piece of equipment before it can be put into use is debited to an asset account.

• The cost of regular maintenance on a company truck is debited to an expense account.

• The cost to repair equipment one year after it is put into service is debited to an expense account.

• The cost to refurbish equipment to increase its productivity two years after it is put into service is a revenue expenditure.