Which of the Following Depreciation Conventions Are Not Used Under

question 5

Multiple Choice

Which of the following depreciation conventions are not used under MACRS?

• A) Full-month
• B) Half-year
• C) Mid-month
• D) Mid-quarter
• E) All of these are used under MACRS

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Definitions:

Issued

Refers to the process whereby a company distributes shares to shareholders, which can include both the initial offering to the public and subsequent offerings.

Premium

An additional amount paid over the normal cost, often associated with insurance or bonds.

Discount

In finance, this is the reduction from the face value of a note, bond, or other financial instrument; in commerce, it refers to a reduction from the regular price.

Journal Entry

A documentation of a financial transaction in which the total debits equal the total credits and is entered into the accounting records.