GAAP requires that companies use different depreciation methods for financial reporting purposes than they use for income tax purposes.

Name: GAAP requires that companies use different depreciation methods for financial reporting purposes than they use for income tax purposes.
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Question

Quizplus · Accepted Answer

GAAP does not require companies to use different depreciation methods for financial reporting and tax purposes, but companies often choose to do so for strategic reasons.

GAAP Requires That Companies Use Different Depreciation Methods for Financial