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.

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Definitions:

Acting Independently

Refers to entities or individuals making decisions or taking actions without reliance on or consultation with others, often emphasizing autonomy and self-reliance.

Optimal Quantity

The most efficient amount of a product or service that minimizes costs and maximizes profitability.

Normally Distributed

Describes a statistical distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values differ from the mean.