Under MACRS and GAAP the acquisition cost is not fully depreciated leaving a residual value. True False
Under MACRS and GAAP the acquisition cost is not fully depreciated leaving a residual value. True False
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
-
Under MACRS and GAAP the acquisition cost is not fully
depreciated leaving a residual value.True
False
2. Regardless of the purchase date, MACRS sets how much depreciation can be recorded in the first year, while GAAP accounts for the purchase date.
True
False
3.A company can opt not to take the Bonus Depreciation by completing Form 4562, Depreciation and Amortization.
True
False
4. For buildings, MACRS, requires________________depreciation method.
Sum-of-years'-digits |
||
DDB |
||
Straight-line |
||
straight-line or DDB. |
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