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:

American Psychological Association

A major professional organization in the United States representing psychologists and promoting psychological research and practice.

Young Girls

Female children and adolescents, typically defined by their developmental stage rather than a specific age range.

Homophobia

Dislike of or prejudice against homosexual people, often manifesting in discriminatory attitudes or behaviors.

Heterosexism

Heterosexism is the discrimination or prejudice against individuals who are not heterosexual, often rooted in the belief that heterosexuality is superior or more natural than other sexual orientations.