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An employer provides all of his employees with life insurance protection equal to twice the employee's annual salary. Melba, who is 45, has an annual salary of $60,000. Is Melba required to recognise income even though she is still alive at the end of the year and thus nothing has been collected on the life insurance policy? Explain.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9958522

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