Which of the following best defines capital expenses?

Capital expenses are best defined as expenses for long-term assets. These are costs incurred by an organization to acquire, maintain, or improve fixed assets that will benefit the organization over an extended period, typically longer than one year. This includes expenditures for buildings, machinery, equipment, and land. Such investments are essential for maintaining and expanding the organization's operational capabilities and are often subject to depreciation over time on the financial statements.

In contrast, the other options represent different types of costs. Short-term operating costs are associated with the daily functioning of the business and are usually not considered capital expenses. Recurring staff salaries are operational expenses incurred regularly to compensate employees, and monthly utility payments are routine operational costs required for the functioning of the facility. These do not represent investments in long-term assets, which is the core definition of capital expenses.