All Personal Property Placed in Service in 2012 and Used

question 72

True/False

All personal property placed in service in 2012 and used in a trade or business qualifies for additional first-year depreciation.

---

Definitions:

Variable Costs

Costs that change in proportion to the level of activity of a business, such as material and labor costs.

Break-even Point

The point at which total revenues equal total costs, resulting in neither profit nor loss, indicating the minimum sales volume necessary to cover all costs.

Salary Increases

The upward adjustment or rise in an individual’s or group's pay rate, typically as a result of performance reviews, promotions, or inflation adjustments.

Break-even Point

The point at which total costs equal total revenue, indicating no profit or loss.