The Modified Accelerated Cost Recovery System (MACRS)

Multiple Choice

The modified accelerated cost recovery system (MACRS) :

A) Is included in the U.S.federal income tax rules for depreciating assets.
B) Is an outdated system that is no longer used by companies.
C) Is required for financial reporting.
D) Is identical to units of production depreciation.
E) Does not allow partial year depreciation.