Accountancy, asked by Arpan8184, 1 year ago

Repairs to building and machinery is categorised under which heads

Answers

Answered by BinDaSSgirL01
0
\huge\mathfrak{Answer:}

Guidance for determining whether a project is a repair or a capital improvement is as follows: Costs to maintain an asset in its normal state of repair are considered ordinary repairs and replacements. Such items are reported as operating expenses and are not capitalized.

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Answered by Anonymous
0
Guidance for determining whether a project is a repair or a capital improvement is as follows: Costs to maintain an asset in its normal state of repair are considered ordinary repairs and replacements. Such items are reported as operating expenses and are not capitalized


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