A Sole Proprietorship Files Schedule C of Form 1040, a Partnership

question 49

True/False

A sole proprietorship files Schedule C of Form 1040, a partnership files Form 1065, a C corporation files Form 1120, and an S corporation files Form 1120S.

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Definitions:

Prices of Inputs

This term describes the cost of resources used in the production of goods and services, such as raw materials, labor, and machinery.

Hourly Price

The cost or price of something for each hour it is used, produced, or provided.

Production Technology

Refers to the methods, equipment, and processes used to produce goods and services.

Capital Intensive

An industry or business that requires large amounts of money and resources (such as machinery or equipment) to produce goods or services.