Repairs and maintenance expenditures that benefit future periods are capitalized as an asset.Group startsTrue or False

The statement is True.

In accounting, expenditures that provide future economic benefits and extend the useful life of an asset are capitalized as assets rather than being expensed in the period they are incurred. This means that repairs and maintenance expenditures that are expected to enhance the value of an asset or prolong its useful life should be recorded as an asset on the balance sheet. By capitalizing these costs, they are then depreciated over time, reflecting their consumption of economic value over future periods. This is in accordance with the matching principle of accounting, which aims to match expenses with the revenues they help to generate.