Current E&P does not include
A)tax-exempt interest income.
B)life insurance proceeds where the corporation is the beneficiary.
C)federal income tax refunds from prior years.
D)All of the above are included.

Question

Quizplus · Accepted Answer

All of the options listed (tax-exempt interest income, life insurance proceeds where the corporation is the beneficiary, and federal income tax refunds from prior years) are included in current E&P.

Current E&P Does Not Include