A company has, by the end of its financial period, paid out more Tax than it has to ?pay. How would this be shown in the balance sheet As a 'creditor due within one year' As a Prepaid within current assets As an accrual Revenue As a creditor due after more than one year' O

A company has, by the end of its financial period, paid out more Tax than it has to ?pay. How would this be shown in the balance sheet As a 'creditor due within one year' As a Prepaid within current assets As an accrual Revenue As a creditor due after more than one year' O

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

* A company has, by the end of its financial period, paid out more Tax than it has to
?pay. How would this be shown in the balance sheet
As a 'creditor due within one year O
As a Prepaid within current assets
As an accrual Revenue
As a creditor due after more than one year' O

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