Question

Taxes represent __________ of the business. Multiple Choice an equity liability a cash inflow a cash outflow an accounts receivable liability

Answer 1

The taxes that are being paid by a business firm represents: C. a cash outflow.

Taxation can be defined as the involuntary and compulsory fees that are usually levied on individuals or business firms (entities) by the government, so as to generate revenues which are used in funding public institutions and activities.

Basically, these taxes that are being paid by individuals or business firms (entities) is considered as a cash outflow because it represents money that are flowing out of their accounts.

In conclusion, an amount of money that is flowing out of an account such as taxes is referred to as a cash outflow.

Read more: brainly.com/question/16477816