MACRS stands for modified accelerated cost recovery system and classifies the "life" of every asset for use in determining the depreciation expense each year.

Name: MACRS stands for modified accelerated cost recovery system and classifies the "life" of every asset for use in determining the depreciation expense each year.
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Quizplus · Accepted Answer

MACRS does indeed stand for modified accelerated cost recovery system and it is used to determine the depreciation expense for each year by classifying the "life" of the assets.

MACRS Stands for Modified Accelerated Cost Recovery System and Classifies