On Which Form Is Income from a Single-Member LLC with One

question 49

Multiple Choice

On which form is income from a single-member LLC with one corporate (C corporation) owner reported?

• A)Form 1120 used by C corporations to report their income.
• B)Form 1120S used by S corporations to report their income.
• C)Form 1065 used by partnerships to report their income.
• D)Form 1040, Schedule C used by sole proprietorships to report their income.
• E)None of the choices are correct.

---

Definitions:

Cash Balance

The amount of cash on hand at a given time, reflecting the liquidity position of an entity, as recorded in the financial statements.

Petty Cash Fund

A small amount of cash kept on hand for making immediate, low-value payments instead of writing checks.

Transportation-In

Costs associated with bringing inventory to a business, which are often added to the purchase price of goods.

Office Supplies

Various everyday items used in offices for tasks such as writing, organization, and communication, including pens, paper, and staplers.