"Extraordinary repairs are expenditures extending the asset's useful life beyond its original estimate and are capital expenditures because they benefit future periods." This statement is True.
Capital expenditure or capital expenditure is the amount that an organization or legal entity spends to purchase, maintain, or improve its fixed assets, such as buildings, vehicles, equipment, or land.
- Capital expenditures (Capex) are money invested by a business to purchase or upgrade non-consumable, physical, fixed assets, such as a new building, computer, or business.
- Spending is important for businesses to maintain existing assets and equipment and to invest in new technology and other assets for growth.
Learn more about capital expenditures here: https://brainly.com/question/14279929
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