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)
Production
The production is all mutation process governed by man, which seeks to create a product, with the help of production factors that are the resources used to create goods, the main factors of production are: capital, work and the earth. It can also be called production not only to the development of a new product, if not, to evolve or modify an old one, that is to say, giving a new use to an artifact is part of producing some element. The main function of the production is the creation of satisfiers to calm our needs.
1.- The term agricultural producer is a term used as a qualifying adjective to designate a type of economic activity that is based on the production of mainly food from farming and livestock.
2.- Dairy producers: The dairy industry is a sector of the industry whose raw material is milk from animals (usually cows).
The seminole was a Native American Tribe from florida. Seminole means a member of an American Indian people.
Answer:
sets a principle of goals for the party
A is the correct answer.
A Democratic President is likely to appoint, well, Democrats!
A modern Republican held Senate might have problems with that.
So, what has been occurring is that nominations are slowed down or held up if there is a party difference between the Senate and the Presidency.