A company's taxes payable account decreased by $1,000 during the year.Which of the following would appear on the statement of cash flows prepared using the indirect method?

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Quizplus · Accepted Answer

A decrease in taxes payable indicates that the company paid more cash for taxes than the expense recognized, which means cash outflow. In the indirect method, this is shown as a deduction under operating activities.

A Company's Taxes Payable Account Decreased by $1,000 During the Year.Which