Which of the Following Assets Would Not Be Allowed a Depreciation

question 19

Multiple Choice

Which of the following assets would not be allowed a depreciation deduction?
I.A business computer used to process payroll and maintain a company's general ledger.
II.A personal residence of a taxpayer.
III.A building rented out for the production of rental income.
IV.A yacht rented to a fishing party.
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• A)Only statement II is correct.
• B)Statements II and IV are correct.
• C)Only statement I is correct.
• D)Statements I and III are correct.
• E)All of the assets are depreciable.

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Definitions:

Interrogatories

Written questions from one party to a lawsuit to another, which must be answered formally.

Pleadings

Written documents filed with a court by parties in a legal dispute, outlining their claims, defenses, or other assertions.

Legal Rules Of Evidence

Guidelines governing the admissibility, relevance, and sufficiency of evidence in legal proceedings.

Binding Arbitration

A dispute resolution process where an arbitrator’s decision is final and legally enforceable, without the option for appeal through the court system.