Which of these are assumptions of the Modified Accelerated Cost Recovery System (MACRS)?
- All assets have zero salvage value.
- All service dates are assumed to be at the end of the purchase year.
- Costs are based on only the purchase price of the asset.
- Deemed asset lives most often exceed what a reasonable person would assume.
- All assets are depreciated with the straight line method.
This is a multiple choice question and it possible to have several choices so just show the correct choices