The Modified Accelerated Cost Recovery System (MACRS) is a depreciation method which is used for tax purposes. a. is required by the SEC. O b. expenses an asset over a single year because capital acquisitions must be O c. expensed in the year purchased. must be used for financial statement purposes. O d. QUESTION 19 When an account is written off using the allowance method, which of the following occurs? Current assets remain the same O a. Net income decreases O b. Current assets decrease Net Accounts Receivable decreases O d