The Modified Accelerated Cost Recovery System (MACRS) is a depreciation method used for ________ purposes.
A) tax
B) financial reporting
C) budget
D) cost accounting

Question

Quizplus · Accepted Answer

MACRS is a tax depreciation method used for calculating the deductible costs of tangible property for tax purposes. It determines the depreciation deductions for most types of tangible depreciable property.

The Modified Accelerated Cost Recovery System (MACRS) Is a Depreciation