MACRS Eliminates Several Sources of Potential Conflict Between the IRS

question 39

True/False

MACRS eliminates several sources of potential conflict between the IRS and taxpayers concerning an asset's useful life and the calculation of the depreciation deduction.

---

Definitions:

Superego

One of the three components of the human psyche in Freudian psychoanalytic theory, representing the moral conscience and the social standards of right and wrong.

Id

A component of Sigmund Freud's psychoanalytic theory, representing the instinctual drives and the source of psychic energy.

Ego

In psychoanalytic theory, it represents the part of the personality that mediates between the demands of the id, superego, and reality.

Libido

A term used in psychoanalytic theory to describe the energy created by the survival and sexual instincts.