XYZ Limited Has the Following Ledger Account Balances: Income Tax

question 3

Multiple Choice

XYZ Limited has the following ledger account balances: Income tax payable opening balance $47,000; closing balance $29,000. The amount of tax expense accrued at the end of the year was $22,000. The amount that has been paid during the year to the taxation authorities for incomes taxes is:

• A) $54,000.
• B) $22,000.
• C) $40,000.
• D) $98,000.

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Definitions:

Aroused People

Individuals experiencing heightened physiological and psychological activity, which can influence cognition and behavior.

Emotional Intelligence

Emotional Intelligence is the ability to recognize, understand, and manage one's own emotions, as well as to recognize, understand, and influence the emotions of others.

Paul Ekman

A psychologist renowned for his research on the universality of facial expressions and the identification of emotions.

Facial Expressions

Observable movements of the facial muscles that convey an individual's emotional state or reactions.