Which statement concerning class life and recovery period is not true?
A) The class life of an asset and its recovery period under the Alternative Depreciation System (ADS) are generally the same.
B) Except for very short-lived property, the recovery period of an asset under MACRS is generally less than its class life.
C) A class life has been assigned by the IRS to each asset to which a recovery period has been assigned.
D) The class life of an asset is constant, regardless of which straight-line method is used to calculate its depreciation.
Correct Answer:
Verified
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