Which of the following causes a permanent difference between taxable income and financial accounting income?

Question

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Permanent differences between taxable income and financial accounting income are caused by items that are either included only in taxable income or only in financial accounting income, but not both. A life insurance premium paid by the corporation on a policy where the corporation is the beneficiary is not deductible for tax purposes but is an expense for financial accounting purposes, creating a permanent difference. Choices A, B, and D typically create temporary differences as they eventually reconcile over time.

Which of the Following Causes a Permanent Difference Between Taxable