In the Current Year, Johnice Started a Profitable Bookkeeping Business

question 40

Multiple Choice

In the current year, Johnice started a profitable bookkeeping business as a sole proprietor.Johnice made $38,000 in her first year of operation.What two forms must Johnice file for her business?

• A)Schedules A and C
• B)Schedules D and E
• C)Schedule SE and C
• D)Schedules B and C
• E)None of the above

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Definitions:

Social Bonds

Connections among individuals or groups that foster trust, cooperation, and community, often based on shared values, interests, or experiences.

Customer Value

The perception of what a product or service is worth to a customer versus the cost of obtaining it, taking into consideration both tangible and intangible factors.

Lifetime Value Management

The practice of maximizing the revenue a company can earn from a customer over the entirety of their relationship with the company.

Customer Relationship Management

A strategic approach to managing a company’s interactions with current and future customers, leveraging data analysis to improve business relationships and drive sales growth.