Unformatted text preview: Expenditures After Acquisition - Repairs and maintenance are treated as
expenses of the current period — Repairs include the costs of breakdowns, accidents,
or damage — Maintenance includes the routine costs of oiling,
polishing, painting, and adjusting - Improvements are capitalized as assets — Improvements are expenditures that increase the
future benefits provided by a fixed asset...
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- Fall '07
- Financial Accounting