Taxpayers Use the Half-Year Convention for All Assets

question 28

True/False

Taxpayers use the half-year convention for all assets.

---

Definitions:

Cuticle

A protective and waterproof outer layer of a plant or arthropod, composed of organic material and often preventing water loss.

Vascular Cambium

Vascular cambium is a layer of dividing cells in plants, located between the xylem and phloem, responsible for the secondary growth that increases the thickness of stems and roots.

Xylem

The vascular tissue in plants responsible for the conduction of water and minerals from the roots to the leaves and shoots.

Phloem

The vascular tissue in plants responsible for the transport of nutrients, especially sugars, produced by photosynthesis to various parts of the plant.