For cash budgeting purposes, taxes are generally considered as paid in the quarter incurred

Name: For cash budgeting purposes, taxes are generally considered as paid in the quarter incurred
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Taxes are typically paid in the quarter they are incurred for cash budgeting purposes. This is because taxes are a liability that is due to the government, and it is important to account for them in the quarter they are incurred in order to have an accurate picture of the company's financial position.

For Cash Budgeting Purposes, Taxes Are Generally Considered as Paid