Question: Among the items reported on Cord, Inc.s income statement for the year ended December 31, 2010, were the following: Payment of penalty $ 5,000 Insurance

Among the items reported on Cord, Inc.’s income statement for the year ended December 31, 2010, were the following:

Payment of penalty $ 5,000 Insurance premium on life of an officer with Cord as owner and beneficiary 10,000 Temporary differences amount to

a. $0

b. $ 5,000

c. $10,000

d. $15,000

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