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)
I believe mitosis is when the cells reproduce asexually
<span>according to the five-factor model of personality, estelle would score: </span><span> high on extraversion and high on neuroticism
on the five-factor model of personality, people are considered as an extrovert if they love interracting with people and became the center of attention (we can see that Estelle is outspoken and lover parties & crowds)
And people will be considered as a neurotic if they're cautious and take everything seriously (which cause Estelle to constantly worry)
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Answer:
Within the first 20 minutes after leaving class.
Answer:
These are the options for the question:
A) Russia
B) Germany
C) Rhine River
D) the Pyrenees
And this is the correct option for the question:
D) the Pyrenees
Explanation:
The Pyrenees by definition, are not part of the Northern European Plain because it is a mountain range. The Pryenees forms the natural boundary between the Iberian Peninsula, and the rest of Europe (Europe is also a big peninsula), where the plain is located.
Germany on the contrary, has around a third of its territory in the Northern European Plain, the Upper Rhine River is located entirely within the Northern European Plain, and most of Western Russia is located within the Northern European Plain.
