The Amount of Income Taxes ________

Multiple Choice

The amount of income taxes ________.

A) required by the federal government for a corporation is calculated on a Form 1120
B) is calculated on a Form 1040 for a corporation
C) the corporation owes, but has not yet paid, is recorded as a debit to the Income Tax Payable account
D) the corporation owes, but has not yet paid, is reported as a long-term liability on the balance sheet