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Using the Legend Provided, Classify Each Statement Accordingly

Question 37

Short Answer

Using the legend provided, classify each statement accordingly. In All cases, assume that taxable income is being adjusted to arrive at current E & P for 2014.
a. Increase
b. Decrease
c. No effect
-Premiums paid on key employee life insurance policy (assume no increase in cash surrender value of policy) in 2014.

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