Multiple Choice
The income statement for Simpson,Inc.indicates that tax expense was $30,000.The balance sheet indicates that taxes payable for the same year increased by $5,000.What amount did Simpson,Inc.actually pay in taxes during this year?
A) $15,000
B) $20,000
C) $25,000
D) Cannot be determined without the cash balance
Correct Answer:
Verified
Correct Answer:
Verified
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