What Is One Reason to Use the Taxes Payable Method

question 5

Multiple Choice

What is one reason to use the taxes payable method?

• A)It is a complicated method,but results in the least tax expense.
• B)A company only pays tax once a year under this method.
• C)It results in the best matching for the balance sheet.
• D)It is the least costly method for tax accounting.

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Definitions:

US$

The US dollar, symbolized as USD, is the official currency of the United States of America and used as a benchmark in the global economy.

Strengthens

In financial terms, it often refers to the appreciation or increase in value of an asset or currency.

C$

Emblem denoting the Canadian Dollar, Canada's official currency.

Euro

The accepted form of money in the eurozone, made up of 19 out of the 27 member states of the European Union.