Examlex
Needing a certain key to open the front door of your house is analogous to the
Income Tax Expense
The amount of income tax a company owes to federal, state, or local authorities, recognized as an expense in the period it is incurred.
Income Tax Payable
The amount of income tax a company owes to the government but has not yet paid.
Cash Paid
The total amount of cash disbursed by a business for various purposes, such as operating expenses, purchases, and investments.
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