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Students in Mrs. Reis's classroom have learned that it is time to stop talking and return to their seats when the lights are flipped off and then back on. This is an example of
Personal Property
Property that includes movable items such as furniture, cars, and investments, as opposed to real estate.
200% Declining-Balance Rate
A method of accelerated depreciation allowing for a double rate of depreciation on assets, compared to the straight-line method.
MACRS
The Modified Accelerated Cost Recovery System, a method of depreciation for tax purposes that allows faster write-offs on property.
Mid-Month Convention
A rule for depreciation of business assets that assumes assets are acquired and disposed of at the midpoint of the month.
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