Question
17. Which of the following statements are FALSE? a. MACRS is the only depreciation method approved by the IRS for computing income-tax liability and it
17.Which of the following statements are FALSE?
a.
MACRS is the only depreciation method approved by the IRS for computing income-tax liability and it is also the most commonly used method in the United States for financial reporting.
b.
MACRS stands for Modified Annuitized Cost Recovery System.
c.
MACRS-GDS is based on double declining balance switching to straight line depreciation.
d.
MACRS-ADS is based on straight line depreciation.
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
2nd edition
1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025
