If Depreciable Property Is Transferred by Gift, Any Depreciation Recapture

question 42

True/False

If depreciable property is transferred by gift, any depreciation recapture potential carries over to the donee.

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Definitions:

Investment Centre

A segment or division within a company for which the manager has control and is responsible for its revenue, expenses, and assets, and return on investments.

Performance Measure

Metrics or indicators used to evaluate the effectiveness, efficiency, and success of an organization's activities or an individual's performance.

Return on Investment

A performance measure used to evaluate the efficiency or profitability of an investment relative to its cost.

Revenue Centre

A segment, division, or unit of a business responsible for generating revenue, focusing on sales activities rather than profit or cost efficiencies.