Final answer:
Ordinary repairs usually benefit multiple periods and are classified as deferred expenditure. Other types of expenditures include capital expenditure for lasting improvements, revenue expenditure for current period costs, and contingent expenditure for uncertain future costs.
Step-by-step explanation:
When an ordinary repair occurs, several periods will usually benefit. The correct option is c. Deferred expenditure. This expenditure relates to a cost incurred for maintaining an asset without significantly enhancing its life or value. As a result, the cost is not capitalized but is spread over several periods which benefit from the repair, matching the expense with the income it helps to generate. In contrast, capital expenditure refers to spending that increases the capacity or efficiency of an asset for more than the current period. It is typically a one-time cost for a long-term benefit, such as buying new machinery or building a new facility. Revenue expenditure, on the other hand, is an expense only related to the current operating period, like routine repairs and maintenance. Lastly, contingent expenditure is an uncertain future expenditure which depends on a possible event that may or may not occur.