Acct Info System and Firm Value

Which of the following depreciation provisions are available to listed property that is used more than 50% for business purposes? (Check all that apply.)

Bonus depreciation on the business-use percentage of the cost Section 179 expensing on the business-use percentage of the cost MACRS depreciation on the business-use percentage of the cost

True or false: To produce data, information is often processed and then combined with the appropriate context.

False

When comparing depreciation rules for regular tax purposes to those for alternative minimum tax (AMT) purposes, which of the following statements are INCORRECT? (Check all that apply.)

For AMT purposes, businesses must depreciate tangible personal property using the 200 percent declining balance method. Depreciation of real property uses longer recovery periods for AMT purposes than for regular tax purposes. For AMT, the total AMT depreciation is always added to regular taxable income to calculate the AMT base.

The International Federation of Accountants suggests that accounting can hardly be viewed separately from which field?

Information Technology

An attribute of relevant information is: the information is Blank______.

confirmatory

Which system contributes information on revenues to help assess profitability at a detailed customer, product, and company level to help evaluate whether business value was created?

customer relationship management system

External auditors accessing their client's accounting information system would be serving the accountant's role in an accounting information system of a(n) Blank______.

evaluator

Which system summarizes and communicates the results of the accounting transactions in financial reports, including financial statements, footnotes and related disclosures?

financial reporting system

An attribute of relevant information is: the information provides Blank______.

predictive value