The fact that young children may mistakenly apply ‘s’ to
make the plural of a word, as in the ‘childs are playing,’ is often taken as an
evidence that the capacity to acquire the rules of language is natural and
innate.
Innate is being defined as something to be inherited or that
it was inborn. Whereas natural is being defined as something that already exist
within in which a person has an innate talent or gift.
The purchase of a new vehicle or the reduction of student loan debt are examples of short-term objectives, while retirement planning, college funding, and the purchase of a second house are examples of long-term ambitions. This is further explained below.
<h3>What are short-term savings goals?</h3>
Generally, Savings objectives, such as an emergency fund or a new smartphone, that can be accomplished in less than two years are considered short-term.
In conclusion, Examples of short-term goals include the acquisition of a new car or the reduction of outstanding debt from student loans. Long-term goals include retirement preparation, the financing of further education, and the purchase of a second home.
Read more about short-term savings goals
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Answer:
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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)
<span>Australia became an independent nation on </span>1 January 1901 when the
British Parliament passed legislation allowing the six Australian colonies to become
autonomous and self-governing as part of the Commonwealth of Australia which
was then established as a constitutional monarchy.
