Under the Modified Accelerated Cost Recovery System, All of the Following

question 97

Multiple Choice

Under the modified accelerated cost recovery system, all of the following are true EXCEPT that:

• A) assets are grouped into classes.
• B) most real estate is depreciated using the straight-line method.
• C) for a given class, the depreciation is computed using a declining-balance method.
• D) MACRS can only be used for financial reporting purposes.

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