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CHAPTER 8 DEPRECIATION, COST RECOVERY, AMORTIZATION, AND DEPLETION Instructor: The test items in both the print Test Bank and ExamView test-creation software are numbered by question type within each chapter. Thus, users of ExamView can more easily preview their selections using the printed Test Bank in the same numbering system. Learning Objective, Level of Difficulty, Estimated Time to Completion, and the AACSBs and AICPAs Core Competencie s for each test item are located within the item itself. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 Cost recovery: concept New 2 Cost recovery: allowed and allowable Unchanged 2 3 Cost recovery: antiques New 4 Cost recovery: recovery period commences Unchanged 4 5 Cost recovery: land improvements Unchanged 5 6 Cost recovery: conversion to business use Unchanged 6 7 Cost recovery: MACRS Unchanged 7 8 Cost recovery: MACRS Unchanged 8 9 Cost recovery: half-year convention Unchanged 9 10 Cost recovery: mid-quarter convention New 11 Cost recovery: mid-quarter convention New 12 Cost recovery: MACRS real property Unchanged 12 13 Cost recovery: MACRS real property Unchanged 13 14 Cost recovery: MACRS real property Unchanged 14 15 Cost recovery: straight-line Unchanged 15 16 Cost recovery: straight-line and mid-quarter Unchanged 16 convention 17 Cost recovery: farm property New 18 Cost recovery: farm property Unchanged 18 19 Cost recovery: farm property Unchanged 19 20 Cost recovery: leasehold improvement property Unchanged 20 21 Cost recovery: leasehold improvement property New 22 Section 179 expensing Modified 22 23 Section 179 expensing Unchanged 23 24 Section 179 expensing Unchanged 24 25 Section 179 expensing: effect of MACRS Unchanged 25 26 Section 179 expensing: effect on basis Unchanged 26 Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 27 Section 179 expensing: production of income Unchanged 27 property 28 Listed property: 280F limits Unchanged 28 29 Listed property: 179 expensing New 30 Listed property: 50% business use test Unchanged 30 31 Listed property: effect of statutory dollar amounts Unchanged 31 32 Listed property: statutory dollar amounts Unchanged 32 33 Listed property: statutory dollar amounts and Unchanged 33 mid-quarter convention 34 Listed property: cost recovery recapture Modified 34 35 Listed property: leasing and inclusion amount Unchanged 35 36 Listed property: substantiation Unchanged 36 37 Alternative depreciation system (ADS): AMT New adjustment 38 ADS: straight-line Unchanged 38 39 ADS: convention for personalty Unchanged 39 40 ADS: election to use Unchanged 40 41 ADS: election to use Unchanged 41 42 ADS: convention for realty Unchanged 42 43 Covenant not to compete: 197 intangible Unchanged 43 44 Amortization of acquired goodwill Unchanged 44 45 Amortization: self-created intangibles Unchanged 45 46 Start-up expenditures New 47 Start-up expenditures Unchanged 47 48 Depletion: cost Unchanged 48 49 Depletion: percentage... View Full Document

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