Cost Recovery 2013 (1)

Cost Recovery 2013(1)

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Unformatted text preview: blished for the first time, mandatory Mandatory minimum lives based on categories of assets New mandatory most rapid methods (slower methods could be elected) Mandatory zero salvage value. – – – Numerous adjustments occurred over the few years that ACRS applied—1981­1986. MACRS—After 1986 MACRS—After 1986 Part of the Tax Reform Act of 1986. MACRS replaces ACRS—generally longer lives, slower methods. Retains zero salvage. Mandatory for all depreciable tangible property unless the life is stated in term other than time (e.g., units of production, machine hours) MAC...
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This document was uploaded on 02/14/2014 for the course ACCOUNTING 322 at UCSD.

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