Answer:
he limits and legal rights of those who own companies and those who work in companies is an ongoing debate in American politics. As a nation equally committed to both capitalism and the rights of individuals, the United States has struggled to balance the needs of corporations and the needs of workers. in conclusion, the government should help only when the disputes are great and may even use force in these times, but should otherwise leave it to the people.
Explanation:
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)
1. D. Beauty Salon
2. C. Woman buying a computer.
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A man who is almost 65 years old withdraws from his connections with younger people, and his coworkers stop asking him for help would be described as a behavior that is natural part of aging according the <span>disengagement theory.
</span><span>This theory states that "aging is an inevitable, mutual withdrawal or disengagement, resulting in decreased interaction between the aging person and others in the social system he belongs to".</span>
<span>The main features of advancing industrialism in the west was the invention of rail roads, telephone, camera, electricity and so on. In short it lead to technological advancement.</span>
