Which Statement(s) Are True About the Tax Law Changes in 2017

question 44

Multiple Choice

Which statement(s) are true about the tax law changes in 2017?

• A) Congress wanted businesses to invest more in long-lived assets.
• B) Companies are temporarily allowed to take 100% bonus depreciation in the first year that an asset is placed in service.
• C) This bonus will be phased out beginning in 2023 and expire by 2027.
• D) All of these are true.

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Definitions:

Exchange Rate

the price at which one currency can be exchanged for another, influencing international trade and investment.

Inflation Rate

The rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

Demand

The desire and ability of consumers to purchase goods or services at given prices.

Supply

The total amount of a product or service that is available for purchase at any given price.