Which of the Following Is Not a Business Transaction

question 74

Multiple Choice

Which of the following is not a business transaction?

• A) Erin deposits $15,000 in a bank account in the name of Erin's Lawn Service.
• B) Erin provided services to customers earning fees of $600.
• C) Erin purchased hedge trimmers for her lawn service agreeing to pay the supplier next month.
• D) Erin pays her monthly personal credit card bill.

---

Definitions:

Full-Time Student

A status for individuals enrolled in a higher educational institution with a full course load, impacting tax credits and dependency status for taxes.

Personal Exemption

A deduction allowed by the IRS for the taxpayer, the spouse, and eligible dependents, significantly reduced and effectively eliminated with the Tax Cuts and Jobs Act for tax years 2018 through 2025.

Legally Divorced

The formal termination of a marriage by a court or other competent body, restoring the individuals to single status with legal rights to remarry.

Dependent Children

Children who rely on their parents or guardians for financial support and may qualify the supporter for certain tax benefits.