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Which of the following statements accurately describes the concept of tax depreciation in accounting? A ) Tax depreciation allows businesses to deduct the entire cost
Which of the following statements accurately describes the concept of tax depreciation in accounting?
A Tax depreciation allows businesses to deduct the entire cost of an asset in the year it is acquired.
B Tax depreciation is based on the estimated useful life of an asset and allows businesses to spread the cost of an asset over its useful life for tax purposes.
C Tax depreciation is determined by the fair market value of an asset at the end of its useful life.
D Tax depreciation is calculated based on the market value of an asset at the time of its acquisition.
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