A short-run financial planning model specifies a tax payment at the end of each quarter.For the current month,taxes payable would equal the previous month's taxes payable plus

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The short-run financial planning model specifies a tax payment at the end of each quarter. Therefore, taxes payable for the current month would be the previous month's taxes payable plus the taxes from the current month's income statement less the current month's tax disbursement since tax payment is made at the end of the quarter. The taxes payable balance at the end of the quarter would be the sum of the taxes payable for each of the three months in the quarter.

A Short-Run Financial Planning Model Specifies a Tax Payment at the End