Revenue expenditures to keep an asset in good operating condition; they are necessary if an asset is to perform to expectations over its useful life are called ________.

Revenue Expenditures

Revenue expenditures are the costs incurred by a business in the normal course of operations, such as rent, utilities, and wages, which are expensed in the current period.

Operating Condition

Refers to the state or circumstances under which a piece of equipment or a system is functioning.

Useful Life

The estimated duration of time that an asset is expected to be usable for the purpose it was acquired, influencing depreciation calculations.