If the business use of listed property decreases to 50% or less of the total usage, the property is subject to depreciation recapture.
Answer the following statement true (T) or false (F)
True
Listed property has additional requirements due to the potentially personal-use nature of the property.
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The degree to which an organization achieves a stated goal refers to:
A. effectiveness. B. synergy. C. conceptual skill. D. efficiency. E. human skill.
Real-time processing would be most beneficial in handling a firm's
a. fixed asset records b. retained earning information c. merchandise inventory d. depreciation records
Where is a central business district typically located?
A. Shopping malls B. Downtown area C. Rural area D. Semi-urban area E. Airport
Which of the following is true of a general partnership?
A. A business must generate a profit in order to qualify as a general partnership. B. The general partners need not be the co-owners of the business. C. A general partnership may be formed with little or no formality. D. Charity organizations and schools are usually formed as general partnerships.