Are the amounts at which fixed assets are reported in the, Accounting Basics

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Are the amounts at which fixed assets are reported in the

A. Are the amounts at which fixed assets are reported in the balance sheet their approximate market values as of the balance sheet date? Discuss.

B. (a) Under what conditions is the use of an accelerated depreciation method most appropriate?

(b) Why is an accelerated depreciation method often used for income tax purposes?

C. What is the Modified Accelerated Cost Recovery System (MACRS), and under what conditions is it used?

D. Is it necessary for a business to use the same method of computing depreciation

(a) for all classes of its depreciable assets.

(b) in the financial statements and in determining income taxes.

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