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)
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Answer:
The answer is...
Explanation:
<h3>A) make Germany pay for the destruction of the war</h3>
According to quizlet, "The reconstruction of Germany after World War II was a long process. Germany had suffered heavy losses during the war, both in lives and industrial power. ... Millions of German prisoners of war were for several years used as forced labor, both by the Western Allies and the Soviet Union.
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I hope this helps!
- sincerelynini
Answer:
California, Hawaii, New Mexico and Texas
Answer:
The answer is Social justice.
Explanation:
Social justice is a majorly seen as any value widely accepted such as the equal right of all citizens, fair share of social amenity, freedom to all and equal right.
Social Justice is usually practiced by activists, community leader and sometimes politicians. This are people that generally believe that there will come a time when the whole world will have peace and live in unity.
