I certainly won't argue there is subjectivity in the process. But the plain text of the application is clear on this. There will be opportunity to submit additional documents if they don't think the applicant provided enough.
I received my restricted "while conducting business as ..." recently, and I had help with my paperwork, but I simply printed some monthly statements from my business bank account, while blacking out non-essential info, and blacked everything out except deposits. During the interview they asked about what % of deposits were cash vs check, but said the % really wont affect the result, reason being that someone attempting to rob you doesn't know if you have cash or checks when robbing you.