Which method of depreciation is required for tax purposes?
A) Straight-line depreciation
B) Declining balance depreciation
C) Double declining balance depreciation
D) Modified accelerated cost recovery system (MACRS)

Question

Quizplus · Accepted Answer

The Modified Accelerated Cost Recovery System (MACRS) is the method of depreciation required for tax purposes in the United States. It allows for faster depreciation than the straight-line method, providing tax benefits to businesses.

Which Method of Depreciation Is Required for Tax Purposes