Full file at https://testbankuniv.eu/Taxation-of-Business-Entities-2017-8th-Edition-Spilker-Test-Bank
12.
If tangible personal property is depreciated using the half-year convention and is disposed of during the first quarter of a subsequent year, the taxpayer must use the mid-quarter convention for the year of disposition. FALSE AACSB: Reflective Thinking AICPA: BB Critical Thinking Accessibility: Keyboard Navigation Blooms: Analyze Learning Objective: 02-02 Determine the applicable cost recovery (depreciation) life, method, and convention for tangible personal and real property and calculate the deduction allowable under basic MACRS. Level of Difficulty: 2 Medium Topic: Depreciation
13.
If a machine (seven-year property) being depreciated using the half-year convention is disposed of during the seventh year, a taxpayer must multiply the appropriate depreciation percentage from the MACRS table percentage by 50 percent to calculate the depreciation expense properly. TRUE AACSB: Analytical Thinking AICPA: BB Critical Thinking Accessibility: Keyboard Navigation Blooms: Analyze Blooms: Apply Learning Objective: 02-02 Determine the applicable cost recovery (depreciation) life, method, and convention for tangible personal and real property and calculate the deduction allowable under basic MACRS. Level of Difficulty: 2 Medium Topic: Depreciation
14.
Real property is always depreciated using the straight-line method. TRUE AACSB: Reflective Thinking AICPA: BB Critical Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 02-02 Determine the applicable cost recovery (depreciation) life, method, and convention for tangible personal and real property and calculate the deduction allowable under basic MACRS. 02-39 Copyright Š 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
Full file at https://testbankuniv.eu/Taxation-of-Business-Entities-2017-8th-Edition-Spilker-Test-Bank