The client is a corporation which uses high-tech equipment to manufacture its product. Because of the high level of wear and tear due to long production runs and frequent technology changes, the client usually replaces the equipment every two years. According to IRS guidance, the MACRS life of the equipment is five years. In order to accelerate depreciation deductions, which tax depreciation
option should the client elect?
A) alternative depreciation system (ADS)
B) regular MACRS treatment
C) MACRS with a straight-line election
D) units-of-production method
D) units-of-production method
Under Sec. 168(f), taxpayers may exclude property from the MACRS system if the property is depreciated under the units-of-production method or any other method not expressed in terms of years.
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The processes used by management in developing estimates include which of the following?
a. Controls over the process. b. The reliability of underlying data in developing the estimate. c. Use of outside experts by management (for example, how they were used and their expertise). d. All of the above.
What should a salesperson do after finishing the sales presentation?
A. Wait for a positive response from the buyer. B. Use a trial close to determine the attitude of the product. C. Ask questions to assess the amount of knowledge gained by the prospect. D. Present proof statements. E. Ask for the order after fully doing the presentation.
The form on which an employer lists annual taxes withheld is a
A) 1090 Form. B) 1040 Form. C) W-4 Form. D) W-2 Form.
A time-study procedure involves timing a sample of a worker's performance and using it as a basis for setting a standard time
Indicate whether the statement is true or false