Sandy Is a Self-Employed Health Information Coder

question 27

Multiple Choice

Sandy is a self-employed health information coder.She has net earnings (profit) from her business of $71,200.Her self-employment taxes for the year are: (Round your answer to 2 decimal places. )

• A)$10,060.24.
• B)$10,066.24.
• C)$10,680.00.
• D)$10,893.60.

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Definitions:

Accounting Principles

The foundational concepts and guidelines that govern the field of accounting, such as revenue recognition, matching principle, and full disclosure.

Extraordinary Item

Events or transactions that are both unusual in nature and infrequent in occurrence, impacting a company's financial position.

Selling Activities

Actions undertaken by a company to promote and sell its products or services, including advertising, sales promotions, and personal sales.

Cash Flows

The total amount of money being transferred into and out of a business, especially affecting liquidity.