What is the method called when a company calculates their income tax expense on the cash basis?
A)Taxes payable method
B)Temporary taxes method
C)Tax allocation method
D)Cash payable method

Question

Quizplus · Accepted Answer

The Taxes Payable Method is used when a company calculates their income tax expense based on the cash basis, focusing on the taxes actually paid during the period rather than the accrual basis of accounting.

What Is the Method Called When a Company Calculates Their