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Business, 08.11.2019 04:31 ayoismeisalex

Bruin company received a $100,000 insurance payment on the death of its company president. the company annually paid $1,000 of nondeductible insurance premiums on the policy. bruin reported the insurance receipt as income and deducted the premium payments on its books. for asc 740 purposes, the income and deduction are characterized as: group of answer choices

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Bruin company received a $100,000 insurance payment on the death of its company president. the compa...

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