Amajor objective of macrs is to: a. ensure that the amount of cost recovery for tax purposes will be the same as book depreciation. b. require companies to use the actual economic lives of assets in calculating cost recovery for tax purposes. c. companies achieve a faster write-off of their capital assets. d. reduce the amount of the cost recovery deduction on businesses tax returns. e. all of these choices are major objectives.

Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable

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The green revolution is a scientific breakthrough that improved seeds for basic crops. how did the green revolution impact the supply of basic crops such as wheat and corn? the supply of wheat and corn increased. there was no impact on the supply of basic crops. the supply of basic crops did not change, but the quantity supplied of basic crops increased. the supply of wheat and corn decreased.