Range of depreciable lives allowed by the Internal Revenue Service (IRS) for a specified asset. The ADR system was replaced by the Accelerated Cost Recovery System (ACRS) for properties placed into service after 1980. But it was revived under the 1986 Tax Reform Act as part of new ACRS rules to determine class lives.
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 | Accounting Dictionary. Dictionary of Accounting Terms. Copyright © 2005 by Barron's Educational Series, Inc. All rights reserved. Read more |
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