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)
Producers want to charge prices that at least will return all their costs: the cost of production, compensation for the time they and their employees spend on the production, and the cost of material, but in an ideal case they want to charge more so that they can earn profits.
In DSM-IV, personality disorders are being divided into three or namedly, into three clusters. They are cluster a, cluster b and cluster c. In the given question above, the cluster c disorders are about personality disorders in regards to being an obsessive compulsive, the feeling of being avoidant towards others and the feeling of being dependant. These characteristics are all about being anxious and fearful towards self, society and other factors that will trigger this characteristic.
Answer:
Issues of morality influenced life in the thirteen colonies in a unpleasant fashion given the Native Americans were slaves to the colonist, it changed their lives for the worst. In document 5 it shows Native Americans wearing rags for clothes and are transporting materials.
Explanation:
hope help you
What caused the sinkhole?
How can we prevent it?
Where might this happen again?
