9. Which of the following business expenses always results in a difference between taxable income and...

9. Which of the following business expenses always results in a difference between taxable income and book income?

A. Rent expense

B. Interest expense

C. Life insurance premiums

D. Salary expense

Solutions

Expert Solution

Life insurance premiums always results in a difference between taxable income and book income.

Life insurance premiums are not deductible for tax purposes and create a permanent difference in between taxable income and book income.

Rent expense, Interest expense and Salary expense are deductible for tax purposes.

Option C Life insurance premiums is correct

ekkarill92 answered 1 year ago

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