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Using Different Depreciation Methods for Book Purposes Versus Tax Purposes

Question 163

Multiple Choice

Using different depreciation methods for book purposes versus tax purposes for the same asset is


A) not allowed since the amount can only be calculated one way or the other,not both.
B) the direct result of the differing goals of financial and tax accounting.
C) contrary to GAAP.
D) against the Internal Revenue Code,and as such,against the law.

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