Answered

Welcome to Westonci.ca, your ultimate destination for finding answers to a wide range of questions from experts. Get quick and reliable answers to your questions from a dedicated community of professionals on our platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

The Modified Accelerated Cost Recovery System (MACRS) is a depreciation method which expenses an asset over a single year because capital acquisitions must be expensed in the year purchased. is required by the SEC. is used for tax purposes. must be used for financial statement purposes.

Sagot :

The Modified Accelerated Cost Recovery System (MACRS) is used for tax purposes.

What is depreciation?

Depreciation refers to the devaluation in the value of the tangible assets after a particular period of time. When the depreciation value of the assets becomes zero or negative. It becomes outdated or obsolete.

Modified Accelerated Cost Recovery System is the system introduced by the United States which is the tax depreciation system used to estimate the value of the assets depreciated.

Initially, it was introduced to attract the investors to invest in the depreciating assets. the benefit of this system is that it gets higher tax exemptions.

Learn more about devaluation here:

https://brainly.com/question/1457256

#SPJ1

Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.