1. Income Tax Payable

Income Tax Payable is the amount of tax that the company owes, and that it plans to pay within the next year. Income Tax Payable is shown under the current liabilities section of the Balance Sheet.

Tax liabilities that are planned to be paid in more than a year are listed in a separate account under the Long-Term Liabilities section of the Balance Sheet.

the answer is a.

by: nicholas dooley

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