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.

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)

facts: the 14th amendment

the 14th amendment addresses citizenship rights and equal protection of the laws.

the 14th amendment was intended to protect the rights of former slaves after the american civil war.

the 14th amendment was approved by congress in june of 1866 and ratified by the states on july 9, 1868.

the 14th amendment establishes that all persons born in the united states are citizens and are guaranteed all the rights of citizenship.

the 14th amendment establishes that the law protects all citizens equally.

in this case the passage of the 14th amendment   that was violated was the last part in which it states that there is equal protection of the law.

the first two-party system consisted of the federalist party, who supported the ratification of the constitution, and the democratic-republican party or the anti-administration party (anti-federalists), who opposed the powerful central government, among others, that the constitution established when it took effect in