It is True that Error in perception are faulty ways of seeing reality, preventing us from being open minded even before we begin to apply our critical thinking.
<h3>What is
critical thinking?</h3>
Critical thinking can be described as the intellectually disciplined process which is skillfully way of conceptualizing as well as applying, analyzing and synthesizing information .
It should be noted that this process involves reasoning, as well as the analysis of available facts and evidence, with regards the arguments to form a judgement.
Therefore, It is True that Error in perception are faulty ways of seeing reality, preventing us from being open minded even before we begin to apply our critical thinking.
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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)
John Wycliffe translated the bible into English because he believed that the bible held authority over the church, and not vice versa. In the other hand, Calvin followed up on Wyciffe's work while also introducing an element of humanism which caught on with the public and was fuel to the fire of reformation. In addtiion, <span>Erasmus also worked on translating the bible and criticized the church.</span>
That a lot of people believe that balancing the federal government's budget equally with spending cuts and higher taxes is a good option.
Hope this helps you. :)
Answer:
bijay Shahi was claimed to be the memory king of Nepal.
