Which of the Following Statements Is Not True About Depreciation

question 112

Multiple Choice

Which of the following statements is not true about depreciation for tax purposes?

• A)The straight-line method is used for most assets.
• B)The same methods are not acceptable for financial reporting.
• C)Plant assets are written off rapidly.
• D)There is a bonus first-year deduction.

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Definitions:

Crucifixion

The execution method in which the victim was nailed or tied to a large wooden cross and left to die, most famously associated with the execution of Jesus Christ.

Early Christian Art

Early Christian art refers to the artwork produced by Christians in the first centuries following Jesus Christ's death, which includes symbols, frescoes, mosaics, and other decorations found in catacombs and churches.

Mausoleum

A large and stately tomb or building erected as a monumental burial place for the deceased, often of significant historical or architectural interest.

Galla Placidia

A Roman empress of the early 5th century, known for her political acumen, and for the construction of several architectural monuments in Ravenna, Italy.