FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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GE. 10:13 O O 3
01:57:15 Remaining
Multiple Choice
Mr. B insured his life with his
children as beneficiaries. He
died after paying P400,000
premiums. His children collected
the P2,000,000 life insurance
proceeds.
How much will be excluded from
Mr. B's gross income?
zero
P400,000
P1,600,000
P2,000,000
35 of 60
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Transcribed Image Text:GE. 10:13 O O 3 01:57:15 Remaining Multiple Choice Mr. B insured his life with his children as beneficiaries. He died after paying P400,000 premiums. His children collected the P2,000,000 life insurance proceeds. How much will be excluded from Mr. B's gross income? zero P400,000 P1,600,000 P2,000,000 35 of 60
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