Which is a tax-free savings account that can only used for educational expenses?
A) Merit-based scholarships
B) Needs-based grants
C) Federal grants
D) A 529 plan

Acorporation a. can use different depreciation methods for tax and financial reporting purposes b. must use the straight - line depreciation method for tax purposes and double declining depreciation method financial reporting purposes c. must use different depreciation method for tax purposes, but strictly mandated depreciation methods for financial reporting purposes d. can use straight- line depreciation method for tax purposes and macrs depreciation method financial reporting purposes