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Why are humid middle-latitude climates with severe winters not found in the Southern Hemisphere?
Income Taxes Payable
The sum of income tax that a company is liable to the government but remains unpaid.
Income Tax Expense
The total amount of income tax that a company expects to pay in a given fiscal period, appearing on the income statement.
Contra-Asset Account
A contra-asset account is an account used in the financial accounting to offset against an asset account on the balance sheet.
Accounts Receivable
This refers to the money owed to a company by its customers for goods or services delivered or used but not yet paid for.
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