Final answer:
The statement is true; repairs and maintenance costs that do not increase an asset's future benefits are typically recorded as expenses in the period they are incurred.
Step-by-step explanation:
The statement that repairs and maintenance expenditures that do not increase the future benefit of the asset are expensed is true. In accounting, when a company incurs an expenditure, the treatment of that expenditure on the financial statements depends on whether it is considered an expense or a capital improvement. Repairs and maintenance costs that simply maintain the asset's current condition or restore it to working order, but do not materially extend its life or increase its value, are typically treated as expenses.
These costs are expensed in the period they are incurred because they only benefit the current period. Conversely, costs that improve the asset, enhance its productivity, or extend its useful life are usually capitalized and depreciated over the period of benefit, reflecting the enhancement of future economic benefits.