Question: Which of the following is not true regarding the Modified Accelerated Cost Recovery System (MACRS)? a.No salvage value is used under MACRS. b.MACRS works

Which of the following is not true regarding the Modified Accelerated Cost

Which of the following is not true regarding the Modified Accelerated Cost Recovery System (MACRS)? a.No salvage value is used under MACRS. b.MACRS works like the Straight Line method but uses different rates. c.the Internal Revenue Service (IRS) classifies various assets according to useful life and sets depreciation rates for each year of the asset's life. d.MACRS is a depreciation method used for tax purposes.

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