14 A sole proprietorship can deduct 100% of the depreciation related to a company car even when he or she uses the car for personal purposes. A True 8 False 15 Which of the following statements about the depreciable base of an asset is not true? A The depreciable base is calculated by subtracting residual value from asset cost B To calculate MACRS depreciation, the depreciable base must first be determined C A company cannot depreciate an asset below its depreciable base D The depreciable base is not used to calculate depreciation under the declining balance method recording the journal entry for depreciation related to production assets, what account should be debited for the production-related portion of the depreciation? A Work-in-process inventory B Depreciation expense C Depreciation expense- production assets DCost of goods sold