Answer:
D) neither I nor II
Explanation:
Yearly or Annual renewable term insurance (ART) is a specific type of life insurance policy that offers the individual life insurance for a set amount of years following the signing of the insurance policy. Therefore based on this information it can be said that neither of the statements listed in the question are true.
Answer:
b. $210,000
Explanation:
The computation of the total income tax expense is shown below:
= Net income before tax × U.S tax rate
= $600,000 × 21%
= $210,000
As in the question, the net income before tax includes depreciation expense so we do not add it again. That's why we do not consider the depreciation expense in the computation part.
The reason why citizens pay taxes is to help the government pay for their needs. Like teachers, public schools and other resources people need that can’t afford.
