The Accelerated Cost Recovery System (ACRS) applies to property first used after ...

The Accelerated Cost Recovery System (ACRS) applies to property first used after ____________________.
 Fill in the blank(s) with correct word

Q. 2

The local zoo buys hay from a supplier with an invoice amount of 17,220. The terms of the sale are 5/22, n/30. What is the net amount due on the order if the bill is paid by the 22nd day?
 A) 17,220
  B) 16,359
  C) 861
  D) 4,760

Q. 3

When the useful life of an asset is more accurately defined in terms of how much it is used rather than the passage of time, the ____________________ method is used to calculate depreciation.
 Fill in the blank(s) with correct word

Q. 4

Standard Software purchases programs from Microsoft with an invoice price of 25,900 and terms of sale of 5/15, n/30. What is the net amount due on the order if a partial payment of 6,000 is made on the 15th day?
 A) 24,605.00
  B) 20,200.00
  C) 20,720.00
  D) 19,584.21

Q. 5

The sum-of-the-years' digits and declining-balance methods of calculating depreciation are called ____________________ depreciation methods.
 Fill in the blank(s) with correct word