Accelerated depreciation is primarily used for
A)the financial statements of large companies.
B)the financial statements of small companies.
C)income tax purposes.
D)both financial reporting and income taxes by most companies.

Question

Quizplus · Accepted Answer

Accelerated depreciation is primarily used for income tax purposes to allow companies to take larger deductions in the early years of an asset's life and smaller deductions in later years, resulting in lower taxable income in the short term.

Accelerated Depreciation Is Primarily Used for