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All the following statements concerning traditional split-dollar life insurance plans are correct, EXCEPT: Group...

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Accounting

All the following statements concerning traditional split-dollar life insurance plans are correct, EXCEPT:
Group of answer choices
The corporation contributes an amount equal to the annual increase in the cash value.
The corporation receives death proceeds in an amount equal to the net amount at risk.
The plan may be used by the corporation on a discriminatory basis.
The employee is allowed to select the beneficiary for a portion of the death proceeds.

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