1.INTRODUCTION When we buy any kind of property for a lower price and then subsequently sell it at a higher price‚ we make a gain. The gain on sale of a capital asset is called capital gain. This gain is not a regular income like salary‚ or house rent. It is a one-time gain; in other words the capital gain is not recurring‚ i.e.‚ not occur again and again periodically. Opposite of gain is called loss; therefore‚ there can be a loss under the head capital gain. We are not using the term
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The following citation cannot be correct: James E. Wiese‚ T.C. Summary Opinion‚ 2005-91. Answer: True False Correct. The citation is correct. REF: p. 2-18 Correct Probably the best combination of electronic tax resources is to conduct day-to-day work on online access systems augmented with CD searches where it is judged critical to do so. Choose one answer. | a. True | | | b. False | Correct. | Just the opposite is the case. p. 2-24 Correct Marks for this submission:
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AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools‚ departments‚ and faculty may approach assessment and its documentation differently‚ one approach is to provide specific questions on exams that become the basis for assessment. To aid faculty in this endeavor‚ we have labeled each question‚ exercise‚ and problem in Intermediate Accounting‚ 7e‚ with the following AACSB learning skills: Questions AACSB
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During the presidential elections many issues arise‚ one of which is income inequality. The idea of economic reality and how people earn‚ use and distribute their property is the basic starting point for understanding the nature of inequality in society. The debate arises on what gives a person right to property‚ and whether or not the government has the right to redistribute property from those more wealthy in order to create equality for those who have less. Of course‚ people can and will differ
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way that we measure the extent to which the distribution of income. The Gini index is a measurement of the income distribution of a country’s residents. This number‚ which ranges from 0 to 1‚ is based on residents’ net income. This number helps us to define the gap between the wealthiest and the poorest. A 0 represents an economy with perfect equality while a 1 represents a perfect inequality. Do not mistake the measurement of income distribution with the measurement of wealth. A country that
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conceps ‚ measurement of nation income Classical and Keynes approaches nATIONAL INCOM E: ----The t otal sum of goods and services produced by t he people of a count ry wit h t he help of capit als and national resources called Nat ional Income (Prof. Alfred Marshall) We can define Nat ional Income as t he collective achievement of a nat ion. In t his way‚ t he Nat ional Income is t he aggregat e of t he individual incomes. (Prof. Gardner Ackley) Nat ional Income is t he basic concept of economic
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Regional Income Disparities in India INTRODUCTION Regional disparities in the level of economic growth experienced in India is a major challenge for policy makers and planners‚ as it produces serious threat to the socio-political harmony of the country. States have experienced different pace of economic growth‚ with some states showing fast progress and others languishing behind‚ although the national growth has been remarkable for the past two decades. Like the national planning the regional
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National Income (Contd.) Methods used to measure National Income Calculating National Income There are various methods for calculating the national income such as production method‚ income method‚ expenditure method etc. Income Method: Different factors of production are paid for their productive services rendered to an organization. The various incomes that are included in these methods are wages‚ income of self-employed‚ interest‚ profit‚ dividend‚ rents‚ and surplus of public sector
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1 Income Inequality The rich‚ the middle class and the poor. These so-called "titles" are defining Americans today. What is income inequality and why is it a problem? Income inequality is the extent to which income is distributed in a population. In the United States‚ that gap between the poor and the rich has expanded immensely over the past ten years. Income inequality is a constantly debated topic today with different opinions and solutions; economists‚ writers‚ and politicians all have different
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Passive Income Streams We work to make ends meet‚ whether you are employed or you work in your own business‚ we all engage in one activity or another‚ actively so as to make some money at the end of the day or the year. This form of active income can be demanding and tedious and we have to work to make money‚ however‚ we can also go into passive income‚ making money in a passive manner‚ in that we do not have to be actively involved everyday but we still make money. It is important to note that
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