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income from life insurance.... why is it a favorable book-tax difference? (from my book) income from life insuance is included in book income, but excluded
income from life insurance.... why is it a favorable book-tax difference?
(from my book) income from life insuance is included in book income, but excluded from taxable income.
To my knowledge, favorable book-tax differences DECREASES book income. So in the case of income from life insurance why is it included in book tax if its favorable?
please help! I dont understand Book-Tax differences
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
9th Canadian Edition
978-1119786818, 1119786819
