Exam 1 Breanna Morrow (ACCT 341)

Breanna Morrow Professor Hollies Mercy College- Accounting Program ACCT 341- Exam #1 Part I- True/False Questions (20 points). 1. The United States Federal government has a provision in the Constitution which precludes deficit spending. a. True b. False 2. Longer class lives for depreciable property and the required use of straight- line method of depreciation would likely dampen the tax incentive for purchasing capital assets. a. True b. False 3. The favorable treatment of resea...