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Which of the following statements about MACRS is false? Multiple Choice Depreciable assets are assumed...

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Accounting

Which of the following statements about MACRS is false?
Multiple Choice
Depreciable assets are assumed to have no residual or salvage value.
Every depreciable asset is assigned to one of ten recovery periods.
Allowable depreciation methods are based on the assets assigned recovery period.
None of these choices are false.
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