All Personal Property Placed in Service in 2018 and Used

question 34

True/False

All personal property placed in service in 2018 and used in a trade or business qualifies for additional first-year depreciation.

---

Definitions:

Connected Manufacturing

The integration of factory equipment, workflows, and systems through the Internet of Things (IoT) to enhance manufacturing processes.

Production Department

Is the division within a manufacturing process that is directly involved in the transformation of raw materials into finished products.

Equivalent Units

A concept used in cost accounting to express the amount of work done on incomplete units as a proportion of the work required to complete a single unit.

Production

The process of converting raw materials, labor, and overhead into finished goods or products.