A Major Objective of MACRS Is To

question 83

Multiple Choice

A major objective of MACRS is to:

• A) reduce the amount of the cost recovery deduction on businesses tax returns.
• B) assure that the amount of cost recovery for tax purposes will be the same as book depreciation.
• C) help companies achieve a faster write-off of their capital assets.
• D) require companies to use the actual economic lives of assets in calculating cost recovery for tax purposes.
• E) All of the above are major objectives.

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Definitions:

Cost Savings

Reductions in expenses, achieved through efficiency improvements, negotiation, or eliminating wasteful practices, contributing to an organization's financial health.

Incompetent Outsourcer

A third-party provider that fails to meet the contractual performance standards or expectations in delivering services or products.

Pension Administration

The management and operation of a pension plan, including enrollment, funding, and benefit disbursement to retirees.

HR Functions

The diverse activities performed by the human resources department, including recruiting, training, employee relations, and benefits management.