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.

Comprehend the ways agency relationships can be established and terminated.

Recognize the liability implications for principals regarding the acts of agents.

Identify the duties and rights between principal and agent, including fiduciary responsibilities.

Understand the effect of a principal’s death on agency relationships and agent authority.

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Definitions:

Shoulds

Expectations or obligations that individuals believe they must adhere to, often leading to stress or disappointment when unmet.

Personhood

In philosophy and ethics, personhood is the status of being a person, recognized for having awareness, agency, and certain rights and responsibilities.

Authentic Contact

A term in psychotherapy referring to genuine, empathic, and present engagement between therapist and client, fostering a space for honest exploration and connection.

Freely Sharing

The act of openly and willingly sharing information, resources, or emotions with others without expecting anything in return.