Exam 10: Depreciation, cost Recovery, amortization, and Depletion

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Most taxpayers elect to expense R&E expenditures because of the immediate tax benefit.

(True/False)
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The mid-quarter convention applies to personal and real property.

(True/False)
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The Section 179 expensing election is available on an annual basis for property purchased during the year.

(True/False)
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