A characteristic of the taxes payable method is that:

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The taxes payable method implies that the tax owed for the period will equal accounting income tax expense, which ensures that the matching principle is respected. However, inter-period income tax allocation is not applied under this method. The use of this method is not mandatory for private companies, and they can choose other alternative methods such as the deferred tax liability method.

A Characteristic of the Taxes Payable Method Is That