Which of the Following Statements About MACRS Is False

question 45

Multiple Choice

Which of the following statements about MACRS is false?

• A)Depreciable assets are assumed to have no residual or salvage value.
• B)Every depreciable asset is assigned to one of ten recovery periods.
• C)Allowable depreciation methods are based on the assets assigned recovery period.
• D)None of the above is false.

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Definitions:

Legal Aspects

Legal aspects encompass the laws, regulations, and judicial decisions that pertain to a specific situation, activity, or entity, influencing how they are governed or operate.

Company Spy

An individual who is employed or engaged by one company to infiltrate another company to obtain secretive information or trade secrets.

Unionizing

The process of organizing workers into a union, a collective entity that represents them in negotiations with employers regarding wages, benefits, and working conditions.

Employee Meeting

A gathering or assembly of employees within an organization, often held to discuss company policies, objectives, strategies, or other work-related matters.