Which of the Following Is Correct Regarding the Form for Filing

question 69

Short Answer

Which of the following is correct regarding the form for filing the annual Federal income tax return? $\begin{array}{ll}\text {Business entity form}&\text {Tax form}\\\text {a. Sole proprietorship}&\text {Form 1040-Schedule C}\\\text { b. Partnership } & \text { Form 1065P } \\\text { c. C corporation } & \text { Form 1120C } \\\text { d. LLC } & \text { Form 1120S } \\\text { e. S corporation } & \text { Form 1120 }\end{array}$

---

Definitions:

FVE Method

Refers to the Fair Value Evaluation method, a technique for assessing an asset's worth at its current market value.

Consolidated Net Income

The total amount of net income earned by a parent company and its subsidiaries, after intercompany transactions have been eliminated.

Equity Method

An accounting technique used by a company to record its investment in another company where it has significant influence but not full control, usually through the ownership of 20-50% of the voting stock.

Investment Revenue

Income earned from various forms of investments like stocks, bonds, and real estate properties.