Workmens compensation insurance is a type of business insurance that provides benefits to employees who suffer work-related
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Workmen’s compensation insurance is a type of business insurance that provides benefits to employees who suffer work-related injuries or illnesses. Specifically, this insurance helps pay for medical care, wages from lost work time, and more.
- 1 This insurance is included in income because it covers wages from lost work.
- 2 Is excluded from income.
- 3 Is excluded from income only if used for certain purposes.
- 4 Is partially included in income and partially excluded.
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
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