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Woodward Corporation's taxable income differed from its accounting income computed for this past year. An...

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Question

Accounting

Woodward Corporation's taxable income differed from its accounting income computed for this past year. An item that would create a permanent difference in accounting and taxable incomes for Woodward would be

Select one:

a.

subscriptions received in advance.

b.

prepaid expenses.

c.

proceeds from life insurance carried by the company on key officers.

d.

bad debt expense recognized using the allowance method.

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