Which of the following statements is true concerning the modified accelerated cost recovery system (MACRS) for the recognition of depreciation expense, for tax purposes?
A. MACRS is used for the determination of depreciation expense that is reported on an income tax return.
B. 7-year property will be depreciated more rapidly than 10-year property under the MACRS depreciation method.
C. Under MACRS more depreciation will be recorded in the second accounting period than in the first accounting period because of the half-year convention.
D. All of these answer choices are true.
Answer: D
You might also like to view...
Which of the following is/are considered to be conduct to invalidate a will?
a. Duress. b. Undue influence. c. Fraud. d. All of these.
In process costing, production costs are accumulated by process. At the end of the period, the total production costs incurred must be split into two components. What are these two components?
What will be an ideal response
Unions provide employees:? A) ?increased bargaining power
B) ?decreased bargaining power. C) ?a pay raise. D) ?None of these answers.
________ is facts and numbers
Fill in the blank(s) with correct word