The depreciation method currently allowed under U.S. tax law governing the accelerated write-off of property under various lifetime classifications is called:
a. FIFO.
B. MACRS.
c. straight-line depreciation.
d. sum-of-years depreciation.
e. erosion
Answer: B. MACRS.
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If the indirect method is used, which of the following would be subtracted from net income to arrive at net cash flows from operating activities?
A) Increase in Notes Payable. B) Decrease in Inventory. C) Decrease in Accounts Payable. D) Depreciation Expense.
Wally died on November 15. His gross estate includes 100 shares of ABC Corporation stock. On November 15, ABC's stock trades were at a high of $100, a low of $92, and a close of $94. What is the per-share value of the stock in Wally's estate?
What will be an ideal response?
Three-layer architecture simplifies distributing or replicating application software across a network
a. True b. False Indicate whether the statement is true or false
Mario is an employee of Flores Company. The company regularly pays its employees by direct deposit on or before the last day of each month. Mario's regular paycheck is deposited on December 31, 2017, but Mario was away on vacation and didn't return until January 15, 2018 . The gross amount of the check is included in Mario's 2017 income. Which of the following concepts or doctrines best explains
this treatment? a. Wherewithal-To-Pay Concept. b. All-inclusive Income Concept. c. Capital Recovery Concept. d. Claim of Right Doctrine. e. Constructive Receipt Doctrine.