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

---

Definitions:

Crystal Content

The proportion of crystals within a rock, influencing its texture and appearance, particularly relevant in the study of igneous rocks.

Composition

In geology, refers to the mineral makeup of a rock or sediment, indicating its chemical and physical properties.

Subduction-Derived Magma

Magma that is generated in subduction zones when one tectonic plate moves under another, melting due to high pressure and temperature.

Continental Crust

The layer of igneous, sedimentary, and metamorphic rocks that forms the continents and the areas of shallow seabed close to their shores.