1. The _________ system is also know as the General Depreciation System and appl

1. The _________ system is also know as the General Depreciation System and applies to all tangible property placed in service after 1986.A. asset valuationB. fair marketC. modified accelerated cost recoveryD. residual value2. The book value at the end of an asset s useful life should always be equal to its _________ value.A. residualB. salvageC. marketD. depreciated3. Under MACRS the _________ treats all property as being placed in service on the midpoint of the years regardless of when the property is actually placed in service.A. valuation scheduleB. depreciation scheduleC. half-year conventionD. cost base4. The _________ method of depreciation is considered an accelerated method of depreciating assets.A. units of productionB. straight-lineC. modified productionD. declining-balance