Choose the Word or Phrase in [ ] Which Will

question 77

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Disability income benefits are taxable when the policy premiums were paid by the [employer | employee].

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Definitions:

Budgeted Balance Sheet

A financial statement projected for a future date, detailing the expected assets, liabilities, and equity of a business, and used for planning purposes.

Company's Assets

Resources owned by a company that have economic value and can be used to meet its financial obligations or invest in future growth.

End of Budget Period

The conclusion of a specified time frame for which a budget was prepared, marking an opportunity to review budgetary performance against actual financial activity.

Sales Budget

A forecast of a company's sales revenue for a specific period of time.