Tronco Inc. placed in service a truck costing $40,000 on January 15 of this year. On November 1, the company placed in service $200,000 of construction equipment. Tronco is a calendar-year taxpayer. When calculating MACRS depreciation, Tronco must apply the mid-quarter convention to the construction equipment, but will use the half-year convention for the truck.
Answer the following statement true (T) or false (F)
False
Fourth quarter additions of personal property totaling more than 40% of total personal asset additions for the year will require the taxpayer to use the mid-quarter convention for all current year personal property additions.
You might also like to view...
Corporations have become increasingly accountable for the use of "sweatshop" labour in developing nations. A supranational institution that has brought this issue to public and corporate attention is:
A) International Monetary fund B) World Bank C) Corporate Watch D) International Labour Organization E) UNESCO
If you are just graduating from college and have limited professional experience,
A) a traditional chronological résumé is your only option. B) a functional résumé is your only option. C) your chronological résumé should probably list educational qualifications before listing experience. D) your résumé can be written in a casual, informal tone. E) avoid mentioning volunteer work.
Answer the following statements true (T) or false (F)
1. Managers who take the view that native managers in foreign offices best understand native personnel and practices, and so the home office should leave them alone, are called polycentric managers. 2. Geocentric policies have been linked to recruiting difficulties and high turnover. 3. Polycentric managers accept that there are differences and similarities between home and foreign personnel and practices and that they should use whatever techniques are most effective. 4. Ethnocentrism is a form of parochialism.
Which of the following is not a budgeting and scheduling approach for managing a project?
A) program evaluation and review technique (PERT) B) critical evaluation and review technique (CERT) C) critical path method (CPM) D) graphical evaluation and review technique (GERT)