Grand River Corporation reported pretax book income of $500,000. Included in the computation were favorable temporary difference
s of $100,000, unfavorable temporary differences of $10,000, and favorable permanent differences of $80,000. The corporation's current income tax expense or benefit would be: _________
Matching each scenario to the insurance needed for protection.
Tyrell's son has leukemia and will need cancer medications- Health insurance.
Someone broke into Maria's house and stole her flat screen TV and other values- Homeowners insurance.
Don wants to make sure his family has enough money to pay off the house if he dies- Life insurance.
Jill broke both of her legs in a skiing accident. She will be out of work for several months while she recovers from her injuries- Disability insurance.
Due to careless driving, Lisa hit another car and hurt the passengers inside- Liability insurance.
<h3>What is insurance?</h3>
Insurance can be defined as a coverage that help to cover cost or expenses in case of unforeseen or unexpected circumstances such as:
Accident
Fire
Theft etc.
Therefore Tyrell's son has leukemia and will need cancer medications- Health insurance.
<span>sole proprietorship. With careful itemization of business expenses, they will receive a moderate tax refund. Receipt retention and careful bookkeeping is essential. An accounting software program to track expenses and income would be quite helpful. It is recommended that they hire a tax firm that specializes in small business returns to minimize tax due or recoup the full amount due to them.</span>
