On Its Tax Return,a Corporation Will Use the Same Depreciation,amortization

question 13

True/False

On its tax return,a corporation will use the same depreciation,amortization and depletion methods used in its financial statements issued to shareholders.

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Definitions:

Permanent Assets

Also known as fixed assets; these are long-term resources owned by a business, like property, plant, and equipment, expected to provide value for several years.

Machinery

Machines collectively, especially those used in production or some form of labor.

Acquisitions

The act of obtaining control of another company or its assets through purchase, which can facilitate growth and expand market share.

Mergers

The process by which two or more companies combine into one entity, typically to achieve strategic objectives, gain market share, or improve efficiency.