Up Until the 1980's Various Tax Benefits Were the Primary

question 55

True/False

Up until the 1980's various tax benefits were the primary reason for the construction of U.S. hotels.

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Definitions:

GAAP

Generally Accepted Accounting Principles; a collection of standardized guidelines and practices for financial accounting used in a particular jurisdiction.

Historical Cost

The original monetary value of an asset or investment at the time of its acquisition.

Market Value

The current price at which an asset or service can be bought or sold in a vibrant market.