When a Company Invests in Equipment, It Is Not Ordinarily

question 151

True/False

When a company invests in equipment, it is not ordinarily allowed to immediately expense the entire cost of the equipment when computing taxable income.

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Definitions:

1948 Convention

Likely refers to the Universal Declaration of Human Rights adopted by the United Nations General Assembly in 1948, setting a standard for human rights.

Civil Rights

The rights of citizens to political and social freedom and equality, often protected by law and central to debates over justice, democracy, and societal progress.

President Truman

Harry S. Truman, the 33rd President of the United States, who served from 1945 to 1953 and is known for ending World War II by using atomic bombs on Japan.

Totalitarianism

The term that describes aggressive, ideologically driven states that seek to subdue all of civil society to their control, thus leaving no room for individual rights or alternative values.