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:
A more gradual realization of victimization
Explanation:
Answer:
Those experts are called <u>White Hat Hackers</u>
Explanation:
<em>White hat hackers </em>are those whose hacking activities are for a noble cause. They are also known as <em>ethical hackers</em>. Their primary motivation is usually not for personal or financial gain.
Also, they cannot be involved in cyber espionage, system hacking without the permission of the system owner.
They could be <em>paid employees or contractors working for companies as security specialists that attempt to find security holes via hacking.</em>
Answer:
Script
Explanation:
A social script refers to the set of behavior which is expected in a given situation. Usually, this happens as a result of the past experiences that a script gets built upon related to any action. The expectations from the past experiences help in understanding the things clearly and easily. In the above situation, it becomes evident that Ellen paid for the groceries because this is an obvious thing which any individual does when he buys things from a grocery. Also, past experiences make is obvious to understand.
Purchasing power is required in order for someone to spend money.
Purchasing power means that someone has the ability to purchase
something (a product or service). Having confidence is not enough to
allow you to purchase something. You can't walk into a store with no
money or goods to barter and walk out with the product or service. Less
disposable income is more likely to lead to less purchasing power. In
order to purchase something, you need to give up something in order to
get what you want, generally you give up money. If you don't have
something you can easily give up, like money, you have less disposable
income.
