Which cost specifically covers the expenses associated with routine maintenance?

The choice indicating service cost accurately reflects the expenses associated with routine maintenance. Service costs encompass the ongoing expenses required to maintain an asset in good working condition and to ensure its operational readiness. This includes regular inspections, cleaning, lubrication, and any minor repairs necessary to keep equipment functioning properly over its designed lifespan.

In contrast, repair costs typically arise from unforeseen breakdowns or damages that require significant intervention to restore an asset’s functionality. Insurance costs reflect premiums paid to protect against potential damages or losses, which do not cover routine maintenance but rather potential future incidents. Tax costs are unrelated to maintenance, as they pertain to governmental charges imposed on assets or income, not directly tied to the upkeep of equipment. Hence, service costs are the most appropriate classification for routine maintenance expenses.