Case 1-8 Section 179 Deduction for Equipment Purchases

Please read the assigned case above and answer the questions below. Please create one multiple choice question based on the case with four answer choices. Please create quiz questions based on the major issues of the case. Please do not make true-false, discussion questions and numerical questions. Include the correct answer.

1. What is the Section 179 Deduction and the limits? Who Qualifies for Section 179?

2. What are Madisons ethical obligations under the AICPA Code of Professional Conduct assuming she is a CPA?

3. Drawing upon the concepts and ethical theories presented in the chapter, answer the following question: What should Madison do next and why?

Can you try to paraphrase the answers in your own words please? Thank you.