10:14 O 4G 4G Vo 0.00 A LTE2 KBs 73 01:56:00 Remaining Multiple Choice X purchased the life insurance of Y for 150,000. He continued the policy by paying P60,000 premium after which Y died. X collected the P1,000,000 proceeds of the policy. How much will X exclude from his gross income? O P60,000 O P150,000 O P210,000

10:14 O 4G 4G Vo 0.00 A LTE2 KBs 73 01:56:00 Remaining Multiple Choice X purchased the life insurance of Y for 150,000. He continued the policy by paying P60,000 premium after which Y died. X collected the P1,000,000 proceeds of the policy. How much will X exclude from his gross income? O P60,000 O P150,000 O P210,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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