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)
Answer:
What makes these three governments different? BRAZIL, MEXICO, CUBA. BRAZIL. Official Name: Federative Republic of Brazil; Brazil is a federal republic with the power ... ( like the USA); The president serves a 4 year term with a limit of two terms ( like the USA) ... Examples of Brazilian political parties:.
Explanation:
Explanation:
The answer could be schizophrenia or agitated dementia or a psychotic disorder.
Based on the scenario above, Bonnie is likely to be
suffering from major depressive disorder. This is classified as a depression in
which is a mental disorder—the individual who has this is likely to experience
low mood, low energy and to lose interest in activities that he or she is used
to or normally does in which Bonnie is likely to be engaging in.
Answer: Serotonin is likely in short supply
Explanation: serotonin is a neurotransmitter produced by nerve cells that is involved in depression, appetite, and is crucial in maintaining a sense of well-being, security, etc. It is called the happy chemical because of it involvement in making one happy. An imbalance influences the mood of an individual.
