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Label the following as "True" or "False" regarding the definition of...

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Accounting

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Label the following as "True" or "False" regarding the definition of business income as it is used in limiting the 179 exp amount. a. The taxable income computation for purposes of the $179 limit includes the deduction for MACRS. b. Taxable income of a trade or business is computed without regard to the amount expensed under $179. c. The aggregate amount of taxable income includes net income from a trade or business as well as from the production of income activities. d. The taxable income computation for purposes of the $179 limit excludes the deduction for additional first-year depreciation

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