A Couple Who Is Married at the Time of Completing

question 6

True/False

A couple who is married at the time of completing a gift can elect to file a joint gift tax return.

---

Definitions:

Accelerated Depreciation

A method of depreciation in which an asset loses book value at a faster rate than the traditional straight-line method.

Depreciation Expense

The portion of the cost of a tangible fixed asset allocated as an expense to a period, reflecting the usage and wear and tear of the asset.

Asset's Life

The expected duration of time that an asset is considered to be useful for the purposes of a business.

Total Asset Turnover

A financial ratio that measures a company’s efficiency in using its assets to generate sales or revenue.