You Have Been Hired by the Local High School to Help

question 52

Multiple Choice

You have been hired by the local high school to help increase the creativity of students.A sophomore tells you he doesn't need help because he is already highly creative.He says school is a waste of time because "you don't need knowledge to be creative." What would you tell him?

• A) He is right - knowledge has no impact on creativity.
• B) He is partly right - factual knowledge has no impact on creativity.
• C) He is wrong - the main benefit of knowledge is that it gives you the confidence to be creative.
• D) He is wrong - the main benefit of knowledge is that it gives you ideas and facts to use in a creative way.

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Definitions:

MACRS Tables

The Modified Accelerated Cost Recovery System tables used in the United States for tax purposes to determine the depreciation of assets over time.

Allowable Depreciation

The allowable tax deduction for the reduction in value of a tangible asset over its useful life, as determined by tax regulations.

MACRS Tables

Depreciation schedules in the Modified Accelerated Cost Recovery System allowing for faster asset depreciation in the earlier years of the asset's life.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life.