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)
England,spain,portugal,the netherlands, and france
Answer: Judicial foreclosure
Explanation: Judicial foreclosure can also be called foreclosure by judicial sale. Judicial foreclosure involves the supervision of a court in the process of selling a mortgaged property.
In this scenario, the lender embark on a judicial foreclosure by filing a lawsuit to a court against the borrower to pay a mortgage debt for certain period of time or the lender take over the property.
Then, all parties involved are notified by the court for the foreclosure, albeit requirements for notification varies from state to state.
Answer: In the Declaration of Independence itself, it believes that all people are equal, men and women, white and black, this contributed for everyone to have equal rights and therefore made a democracy to vote.
Explanation:
You need to understand the culture to know the language because 1. If you don't know the culture you can't learn the language. 2. In order to learn the language, you need to hear native speakers. 3. You will understand better if you know the culture.
