Full question:
Indicate whether the following statements are "True" or "False" regarding the concept of gross income.
a. While the Constitution grants Congress the power to tax income, it does not define the term.
b. The Supreme Court has held that there is no income subject to tax until the taxpayer has recovered the capital invested.
c. Economists measure income (economic income) by first determining the fair market value of the individual's net assets (assets minus liabilities) at the beginning and end of the year (change in net worth).
d. Accounting and tax rules regarding income are the same.
e. The accounting concept of income is founded on the realization principle.
f. Gross income is not limited to cash received.
Answers:
a. True
b. True
c. True
d. False
e. True
f. True
Explanation:
1.The constitution of the United States allows for power to tax income however it doesn't define tax.
2.income is not subject to tax until there is profit from capital invested as ruled by the Supreme Court of the United States
3. Measurement of income in Economics involves applying the concept of fair value to measure income at the beginning and end if the year and notice any changes that may have occurred
4. Accounting and tax rules regarding income are not the same. Accounting however complies with tax rules for accounting purposes.
5.the realization principle involves income earned or losses incurred(not necessarily received in cash or given out)
6.Gross income encompasses all(recognizable) earned income for the period(cash or not)
Because it is natural process
Answer:
17TH
Explanation:
The proposed amendment was quickly ratified as part of the Constitution. ... electors, who in turn vote in the Electoral College for President and Vice President. ... adopted “The District of Columbia Voting Rights Amendment,” which provided for the ... The 23rd Amendment and the chance of a tied 2020 presidential election.
<span>The author, Ron Chernow, presents Hamilton as an overly ambitious man but his ambitions were motivated not by egocentric deeds but by passion and determination to build the foundations of American success and prosperity. Clearly, his actions were influenced by ambition and not by principle. This is expressed in one example as written by Chernow, “To repudiate his legacy.” Another is “in many ways, to repudiate the modern world.” </span>
<span>Can vary among individuals or groups within a single society, is what we holds as symbols that the meanings is attached. The people or humans have an unlimited capacity to create and manipulate symbols, they are also makes so many ideas to create symbols and it is continuous over time.</span>
