The Modified Accelerated Cost Recovery System (MACRS) is a ...

[Bernana]

The Modified Accelerated Cost Recovery System (MACRS) is a depreciation method used for ________ purposes.
 
  A) tax
  B) financial reporting
  C) budget
  D) cost accounting

Question 2

Because preferred stock is a form of ownership and has no maturity date, its claims on income and assets are secondary to those of the firm's creditors.
 
  Indicate whether the statement is true or false

[anoriega3]

Answer to Question 1

A

Answer to Question 2

TRUE

[Bernana]

Thanks for the timely response, appreciate it

[kswal303]

Great answer, keep it coming