Many companies use MACRS (Modified Accelerated Cost Recovery System)depreciation for tax purposes.

If a company uses MACRS for depreciation for tax purposes,can it use a different method for financial reporting? Explain why or why not.

Question

Many companies use MACRS (Modified Accelerated Cost Recovery System)depreciation for tax purposes.
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If a company uses MACRS for depreciation for tax purposes,can it use a different method for financial reporting? Explain why or why not.

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The Answer of Many companies use MACRS (Modified Accelerated Cost Recovery System)depreciation for tax purposes.
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If a company uses MACRS for depreciation for tax purposes,can it use a different method for financial reporting? Explain why or why not.

Many Companies Use MACRS (Modified Accelerated Cost Recovery System)depreciation for Tax