Accounting Dictionary - Letter M

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Maintenance expenses
are expenses incurred to preserve an asset's operational condition for its intended use. Maintenance expenses do not extend the life of the asset nor improve it. As a result, maintenance expenses are not capitalized, in contrast to capital improvements. Examples of maintenance expenses include repairs, tune-up of a delivery truck, cleaning and adjusting machinery.
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