Describe Some of the Different Individuals and Institutions That Advise

question 5

Essay

Describe some of the different individuals and institutions that advise the president. What is the role of the Cabinet? What is the job of the Executive Office of the President? What more informal networks do presidents maintain? Explain.

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Definitions:

Depreciation Method

A methodical strategy for distributing the expense of a physical asset across its lifespan.

Straight-line Method

A method of allocating an asset's cost evenly over its useful life for the purposes of calculating depreciation.

MACRS

Modified Accelerated Cost Recovery System, a method of depreciation for tax purposes that allows faster depreciation in the initial years of an asset's life.

Equipment

Tangible assets used in operations, such as machinery or computers, that have a useful life beyond one accounting period.