All Personal Property Placed in Service in 2015 and Used

question 68

True/False

All personal property placed in service in 2015 and used in a trade or business qualifies for additional first-year depreciation.

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Definitions:

Stockholders' Equity

The ownership interest of shareholders in a company, calculated as the company's total assets minus its total liabilities.

Personal Assets

Assets owned by an individual as opposed to those owned by a business or an institution.

Transfer Agent

A trust company, bank, or similar financial institution assigned by a corporation to maintain records of investors, account balances and transactions, and to manage dividends and other disbursements.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting liabilities, representing owners' claims on the company.