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11 July, 23:35

Which of these items is not an adjustment to taxable income or net loss to compute current E&P?

a. Disallowed portion of meal expenditures.

b. Executive compensation.

c. Tax exempt life insurance proceeds.

d. Federal income taxes paid or accrued

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Answers (1)
  1. 12 July, 02:37
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    d. Federal income taxes paid or accrued

    Explanation:

    There are different items considered as a taxable income adjustment. The taxable income adjustment is usually computed by subtracting exemptions such as itemized or personal deductions from the adjusted gross income. However, a refund due to taxes conducted in the previous year is not one of the taxable income adjustment.
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Home » Business » Which of these items is not an adjustment to taxable income or net loss to compute current E&P? a. Disallowed portion of meal expenditures. b. Executive compensation. c. Tax exempt life insurance proceeds. d. Federal income taxes paid or accrued
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