Computers Used for Business Purposes Are Assigned to Which MACRS

question 46

Multiple Choice

Computers used for business purposes are assigned to which MACRS property class?

• A)3-year
• B)7-year
• C)10-year
• D)5-year
• E)15-year

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Definitions:

Exchange Rates

The price of one country's currency in terms of another currency, which determines how much foreign currency one can buy with a unit of domestic currency.

Euros

The euro is the official currency of 19 of the 27 European Union countries, which together comprise the Eurozone.

Cash Receipt

The collection of money (currency, checks, electronic transfers) by a business or individual, typically documented for accounting purposes.

Compensating Balance

A minimum account balance that a borrower agrees to maintain in a bank account as a condition for receiving a loan, often to compensate the bank for the loan or to secure better loan terms.