Section 179 Allows a Business, with Certain Restrictions, to Do

question 20

Multiple Choice

Section 179 allows a business, with certain restrictions, to do which of the following?

• A) Offset the tax liability with the cost of the asset in the year of purchase.
• B) Expense the asset immediately in the year of purchase.
• C) Expense the asset using double declining balance depreciation during the life of the asset.
• D) Get a government grant to purchase the asset.

---

Definitions:

Deteriorating

The process of becoming progressively worse, often used to describe declines in physical objects, health conditions, or environmental quality.

Changing

The process of becoming different, undergoing transformation or modification.

Stronger

Stronger implies having increased muscular strength, emotional resilience, or overall capacity to withstand pressure or adversity.

Macro-Level Influences

Large-scale societal forces that impact individuals and groups, including economic conditions, cultural norms, and governmental policies.