Which of the following is/are not true regarding repairs?

a. Repairs include routine costs such as for cleaning and adjusting.
b. Repairs include the costs of restoring an asset's service potential after breakdowns or other damage.
c. Repairs do not extend the estimated service life or increase its productive capacity of an asset beyond original expectations.
d. U.S. GAAP and IFRS treat repair expenditures as expenses of the period when the firm makes the expenditure.
e. Distinguishing repairs from maintenance is difficult but typically not necessary because expenditures for both are period expenses.


A

Business

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