Under the economist's definition, unrealized gains, as well as gifts and inheritances, are income.
Answer the following statement true (T) or false (F)
True
The economist's concept of income is based on the idea of increase in wealth rather than realization of income.
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The right of survivorship is a feature of a tenancy in common
Indicate whether the statement is true or false
Interpretative rules are exempt from the APA's procedural requirements of notice and comment
a. True b. False Indicate whether the statement is true or false
The rate of return k is also referred to as the present value of capital
Indicate whether the statement is true or false.
Smartt Software Company borrows $10,000 from Term ‘N All Loans, Inc, but cannot repay the loan when it comes due. Term ‘N All refuses to ex-tend the time for repayment unless Smartt can provide an acceptable surety. Uno Venture Corporation agrees to
act as a surety for the loan af-ter Smartt offers the firm a discount on software and shows Uno financial statements, compiled with Term ‘N All's assistance, that misrepresent Smartt's financial situation. Later, after Uno uses the discount to buy software, Smartt again defaults on repayment of the loan, and Term ‘N All files a suit against Uno to collect the amount of the debt. Is Uno liable? Why or why not?