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All of the following are true EXCEPT: Select one: a. Premiums paid on a business overhead expense policy are deductible as a business expense. b.
All of the following are true EXCEPT:
Select one:
a. Premiums paid on a business overhead expense policy are deductible as a business expense.
b. Proceeds received from a business overhead expense policy are taxable income to the business.
c. Premiums paid on a standard personal disability policy for a sole proprietor are deductible as a business expense.
d. Proceeds received from a standard personal disability policy for a sole proprietor are tax-exempt as compensation for personal injuries or sickness.
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