Many Companies Use Accelerated Depreciation in Computing Taxable Income Because

question 241

Multiple Choice

Many companies use accelerated depreciation in computing taxable income because:

• A)it reports higher net income in the early years as compared to other methods.
• B)it is required by IFRS.
• C)it is easier than straight-line deprecation.
• D)it postpones tax payments until later years because it lowers taxable income in the early years.

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Definitions:

Swann V. Charlotte-Mecklenburg

A landmark 1971 Supreme Court decision that upheld busing as a legitimate means to achieve integration of public schools in the United States.

Segregation

The enforced separation of different racial groups in a country, community, or establishment, historically prevalent in the United States and South Africa.

Supreme Court

The highest judicial authority in a country, often having the final say in interpreting the constitution and laws, and capable of overruling the decisions of lower courts.

Church Committee

A U.S. Senate select committee in 1975-76 that investigated abuses by the CIA, NSA, FBI, and IRS, leading to significant reforms in U.S. intelligence and surveillance practices.