Which Accurately Describes the Purpose of the Taxes Payable Method

question 66

Multiple Choice

Which accurately describes the purpose of the taxes payable method?

• A)It represents the amount of income recognized for accounting purposes.
• B)It represents the amount of income recognized for tax purposes.
• C)It calculates tax expense based on the accounting income before tax.
• D)It calculates tax expense based on the amount payable to tax authorities.