To the extent that tax payable exists and has NOT yet been paid, a company will recognise:
A) current tax asset;
B) non-current asset;
C) non-current liability;
D) current tax liability.

Question

Quizplus · Accepted Answer

When a company has tax payable that has not yet been paid, it represents a current tax liability. Therefore, the correct answer is D, current tax liability. The other options are not applicable in this situation.

To the Extent That Tax Payable Exists and Has NOT