Order the answer to: Multiple Choice Questions 1. All of the following types of

Assignment Help business economics Order the answer to: Multiple Choice Questions 1. All of the following types of

business economics

Order the answer to: Multiple Choice Questions 1. All of the following types of

Question Multiple Choice Questions 1. All of the following types of real property are depreciable except: (a) Warehouses (b) Land (c) Office buildings (d) Test facilities 2. According to information on the IRS website, a taxpayer can take a depreciation deduction as long as the property meets all of the following requirements except: (a) The taxpayer must own the property. (b) The taxpayer must use the property in an income-producing activity. (c) The taxpayer must use the property for personal purposes. (d) The property must have a determinable useful life of more than 1 year. 3. Under the General Depreciation System (GDS) of asset classification, any asset that is not in a stated class is automatically assigned a recovery period of: (a) 5 years (b) 7 years (c) 10 years (d) 15 years 4. All of the following statements about the Alternative Depreciation System (ADS) are true except: (a) The half-year convention applies. (b) is neglected. (c) The recovery periods are shorter than in GDS. (d) The straight line method is required.
Subject business economics
Ready to try a high quality writing service? Get a discount here