Income taxes payable are recognized as an expense once they are paid to the respective government or taxing authority.

Name: Income taxes payable are recognized as an expense once they are paid to the respective government or taxing authority.
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Income taxes payable are recognized as an expense in the period the income was earned, not when the taxes are paid. This follows the matching principle of accounting, where expenses are matched with the revenues they help generate.

Income Taxes Payable Are Recognized as an Expense Once They