Which of the Following Statements About MACRS Is Not Correct

question 121

Multiple Choice

Which of the following statements about MACRS is not correct?

• A)MACRS is the only accelerated depreciation method that may be used on newly acquired assets for federal income tax purposes.
• B)The method permits "depreciating" the asset to a tax basis of $0 over a specified recovery period.
• C)If a company uses MACRS in its income tax returns,it also must use MACRS in its financial statements.
• D)Most businesses would benefit from using MACRS rather than straight-line depreciation in their income tax returns.

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Definitions:

Authorization Cards

Documents signed by employees to indicate their desire for a union to represent them, often used in the process of forming a union.

Recognize Union

The formal acceptance by an employer of a labor union as the representative body for its workforce, typically after a majority vote by the employees.

No-Solicitation Rules

Rules set by employers that limit or prohibit the solicitation (including union solicitation) within the workplace, often to maintain workflow and avoid disruptions.

Union Representation

The act of a union acting as an intermediary between its members and the employer, negotiating on behalf of workers to improve their working conditions and rights.