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:
both the seller and the agent or designated broker could be found in violation of the fair housing laws.
Explanation:
The Fair Housing Act has made it very clear that every person in the protected class has a right to rent or own a residential property in areas where they could previously not do so. This Act is considered a vital one when it comes to modern civil rights enforcement. If a buyer in the protected class is denied or withheld from renting or buying a property, then the seller and the broker can be said to have violated the Fair Housing Act.
A subcontinent is a large land mass that juts from a continent!
Hope this helped! : )
Answer:
African Americans were forcibly brought in chains, made to work for little to nothing, prohibited from having an education, and eventually segregated from the whites by law.
Explanation:
not real sure of an explanation, but I hope this helps :)
