Question $24(2$ points$)$

Which of the following is NOT TRUE regarding ordinary repairs and maintenance?

Question $24$ options:

Ordinary repairs and maintenance are considered capital expenditures.

Ordinary repairs and maintenance are expensed as incurred.

Ordinary repairs and maintenance are referred to in the book as $$revenue expenditures.$$

Ordinary repairs and maintenance benefit only the current period.

Question $25(2$ points$)$

Which of the following is NOT TRUE regarding extraordinary repairs?

Question $25$ options:

Extraordinary repairs are considered capital expenditures.

When journalizing extraordinary repairs accumulated depreciation is debited.

Extraordinary repairs are expensed as incurred.

Extraordinary repairs result in changes to future depreciation expense.

Question $26(2$ points$)$

Which of the following is NOT TRUE regarding asset improvements?

Question $26$ options:

Asset improvements result in changes to future depreciation expense.

Asset improvements are considered capital expenditures.

When journalizing asset improvements the PPE receiving the improvement is debited.

Asset improvements are expensed as incurred.