Questions: Repairs and maintenance expenditures that benefit future periods are capitalized as an asset. True or False

Repairs and maintenance expenditures that benefit future periods are capitalized as an asset. True or False
Transcript text: Repairs and maintenance expenditures that benefit future periods are capitalized as an asset. True or False
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Solution

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Answer

The answer is True.

Explanation

Repairs and maintenance expenditures that benefit future periods are indeed capitalized as an asset. This is because such expenditures are expected to provide future economic benefits, and therefore, they are recorded as an asset on the balance sheet rather than being expensed immediately. This accounting treatment aligns with the matching principle, which aims to match expenses with the revenues they help to generate.

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