Which of the Following Is Incorrect Regarding the Income Tax

question 226

Multiple Choice

Which of the following is incorrect regarding the Income Tax Payable account?

• A)The account represents income tax incurred,but not yet paid by the company.
• B)This is a liability account.
• C)The adjusting entry involving this account also requires an entry to Income Tax Expense.
• D)The account represents tax refunds due to the company.

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