Using Different Depreciation Methods for Book Purposes Versus Tax Purposes

question 163

Multiple Choice

Using different depreciation methods for book purposes versus tax purposes for the same asset is

• A)not allowed since the amount can only be calculated one way or the other,not both.
• B)the direct result of the differing goals of financial and tax accounting.
• C)contrary to GAAP.
• D)against the Internal Revenue Code,and as such,against the law.

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Definitions:

Bacteria

Microscopic, single-celled organisms found in diverse environments; essential for various biological processes but can also cause disease.

Defective Meiosis

Defective meiosis refers to errors in the process of meiosis, which can result in genetic anomalies such as chromosomal missegregations, leading to infertility or genetic disorders.

Viable Gametes

Reproductive cells (sperm and eggs) that are capable of fertilization and supporting normal development.

Hybrid Inviability

A postzygotic barrier where hybrid offspring fail to survive to reproductive maturity.