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:
The Jazz Age was a cultural period and movement that took place in America during the 1920s from which both new styles of music and dance emerged. Largely credited to African Americans employing new musical techniques along with traditional African traditions, jazz soon expanded to America's white middle class.
____Expressed____ powers of the president are specifically established by the language of the Constitution.
<h3><u>What are Expressed powers?</u></h3>
Congress has been given the authority to carry out governmental functions through the Expressed Powers, sometimes referred to as Enumerated Powers. The majority of this authority is listed in Article 1 Section 8 of the US Constitution. These powers (also known as Clauses) are significant to how our Congress operates since the Tenth Amendment restricts Congress's authority to that stated in the Constitution.
The express powers include the ability to:
- levy taxes;
- mint money;
- control domestic and international trade;
- assemble and maintain armed forces;
- establish standards of weights and measures;
- issue patents and copyrights;
- manage foreign affairs, and
- create treaties.
Learn more about the Constitution with the help of the given link:
brainly.com/question/16385413
#SPJ4
Umm the judicial branch off also known as cops
