Resources are characterized as renewable or nonrenewable; a renewable resource can replenish itself at the rate it is used, while a nonrenewable resource has a limited supply. Renewable resources include timber, wind, and solar while nonrenewable resources include coal and natural gas.
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)
Physical Noise is a type of noise is associated with distractions that result from a loud environment.
<h3>What is Physical Noise?</h3>
Physical noise is refer any form of environmental stimulus or noise that causes distraction and hinder people from receiving message or information communicated to them.
Examples of physical noise is when people are talking in the background or background music, causing a noise and hindering someone from getting the necessary information from a conversation.
Therefore, Physical Noise is a type of noise is associated with distractions that result from a loud environment.
Learn more on physical noise from the link below.
brainly.com/question/1972675
He strengthened royal courts by having the jury formally accuse a person of having committed a serious crime. He introduced the courts that were governed by the King and that would put subjects on trial, which weakened the feudal lords who had that power earlier.
<span>Economists use graphs to analyze the choices and trade-offs that people make in a society. This is TRUE. </span>
