An Election to Use Straight-Line Under ADS Is Made on an Asset-By-Asset

question 45

True/False

An election to use straight-line under ADS is made on an asset-by-asset basis for property other than eligible real estate.

---

Definitions:

Duty of Disclosure

The legal obligation to reveal all material facts or information relevant to a transaction or decision-making process.

Duty of Care

A legal requirement that demands individuals or organizations to exercise a reasonable degree of attention and caution to avoid negligence that could harm others.

Business Judgment Rule

A legal principle that protects company directors from liability for decisions made in good faith and with a reasonable basis.

Officer's Roles

Responsibilities and duties assigned to officers within an organization, including executing company policies and managing operational activities.