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)
Based on research, it has been determined that the human circadian rhythm appears to be just over 24 hours.
Circadian rhythms are physical, mental, and behavioral changes that follow a 24-hour cycle.These natural processes respond primarily to light and dark and affect most living things, including animals, plants, and microbes.
One example of a light-related circadian rhythm is sleeping at night and being awake during the day.
Circadian rhythms can influence important functions in our bodies, such as: hormone release , Eating habits and digestion and Body temperature.
However, most people notice the effect of circadian rhythms on their sleep patterns.
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Angkor was a center for organization and the love of a heavenly ruler. The city was arranged and built based on strict and political originations imported from India and adjusted to nearby customs.
The immense arrangement of repositories, waterways, and channels, which was the most remarkable highlights of Angkor, served principally as a method for water control and rice water system, although it likewise spoke to the waters of the universe.