The Theory Of Functionalism

The Theory Of Functionalism The hypothesis of functionalism is the most established, and may likewise be the most prevailing hypothetical viewpoint of humanism. Functionalism concurs that cerebrum states are answerable for mental states, however differs that they will in general be indistinguishable from one another. It is the contention from a functionalist point of view, that, the cerebrum movement or neurological states are what acknowledges mental states, which thus lead to the conduct yield in a physical manner. It has an expansive assortment of positions which it is equipped for articulating in a wide range of different structures. They can be arranged into the accompanying; Diagnostic functionalism: The most generally utilized type of functionalism, which depicts the causal job as an expected set of responsibilities of mental states, which are gotten from our ideas. Logical functionalists guarantee, that, the determinations for a useful job (sets of responsibilities) for mental states are from the earlier. The subsequent rendition is Physchofunctionalism; which dismisses the possibility of behaviorism in brain science, just as reject the physical part of the psyche. The third would be Machine-state functionalism: This similarity was advanced by Hilary Putnam, a notable American thinker, who was motivated by the analogies of psyche (the Turing machines) which can process every given calculation. In non-specialized terms, the brain is an extremely intricate PC program. It is a state wherein given an info B, and such and such will in general occur. A model is the point at which we input a lot of numbers into the PC through a console/programming. It suggests that cerebrum states are exercises which are low level, while assisting with acknowledging mental states which are significant level. To enable the peruser to comprehend about the thought which was portrayed above, I will utilize the more typical functionalist guide to examine the connection between the product and the PC. For instance, we type the numbers 5 in addition to 8, on the one level (low level), the PC is subject to the product for input. The product inside the PC is computing the response to the numbers entered, while at the other level (elevated level), the data is yield on the screen. In this case, the functionalists would contend that the procedure of count would be discharged by the equipment (screen). In this way, the product which is utilized by the equipment, goes about as the capacity job. This PC model can be utilized to convert into the provisions of the cerebrum. The psychological states are subject to the cerebrum states similarly, as the PCs programming is reliant on the computerãÆ'⠯ã‚⠿ã‚â ½s equipment for the yield of the data (screen) and the other way around. In the functionalists see, the mind states help to understand the psychological states which works as an all out useful framework. With this, it is implied that the brain is comprised of the absolute conceivable useful mental states that it can have. These will cooperate with the sources of info (programming), and the equipment (screen) together, before the two of them produce the yields. Functionalists state that on the off chance that we consider mental states likewise, at that point perhaps one day the machine may do the reasoning or be falsely insightful. Along these lines, we could contrast our procedure of deduction with a PC programming, which thusly could run on a few unique machines. The idea for a machine is the idea of a computerized reasoning. This knowledge can be delegated frail AI or solid AI. This kind of knowledge would make it conceivable that one day a PC could be created with its very own psyche. As such, it would think, envision, and reason. It could in the long run do all the things we partner with the human cerebrum. In a feeble AI model, it is contended that the insight of a PC seems to think all alone, however it is really oblivious a similar way human minds are. In the powerless AI, much the same as in the human cerebrum, an information must happen so as to create a yield. When contrasting functionalism and dualism for instance, it has clear qualities. Functionalism attempts to clarify conduct, instead of simply watching it. It utilizes the physical world to clarify the psychological states, consolidating physical contributions with the yields, instead of isolating the physical world from the brain. In Dualism for instance, mental and physical states are both independent, all in all terms, the two can't be absorbed to frame one unit (Levin, 2009). One of the most renowned thinkers in the seventeenth century, Descartes, who viewed himself as a Dualist, additionally contended against the idea of mechanical and psyche properties to be the equivalent (Cottingham, p. 221, 2012). His idea persuaded that the psyche and the body could in fact exist without each other. On the other hand, how could the brain work without the physical? This would not be conceivable. For instance, on the off chance that we accept torment for instance. Agony simply doesn't occur in our mind. Agony can be related to something material (physical) which sends a neurological message to our cerebrum that something harms (mental). As should be obvious, the physical and mental angles relate, as opposed to act independently. Another quality of functionalism, is that an utilitarian framework can be feasible in various manners. For instance, on the off chance that we allude back to the PC similarity, a similar program ought to be usable on various PCs. Conceivably, PCs could have minds like our own, as long as they can play out the a few capacities as us. Then again, a few scholars think functionalist records of mental states will in general be excessively liberal. For a few, it is a slip-up for a PC and its product to have indistinguishable mental states from a human. A portion of these thinkers have contended that a PC and programming would be not able to show veritable feelings. It would likewise be unequipped for cognizance without somebody contributing data for example composing the numbers 5 in addition to 8 into the product. Functionalism appears to preclude the qualia of feeling or any cognizance simultaneously. This could be to some extent that is incorporates non-living things, as conceivable mental states. A few pundits of functionalism do contend that psychological conditions of living things (people) or frameworks (PCs) should incorporate a record of qualia (feelings and cognizance). Another issue with functionalism would be that PCs are non-living, it doesnt not utilize its own approaching data for their conduct as do people and other living things (non-human creatures). With respect to non-living things, they are not frameworks or living things which depend on endurance; and they don't have personal circumstances of their own. These are a portion of the contemplations which dissenters contend for, and call for functionalism to refine its hypothesis. The base is attempt to recognize the living things from the non-living. Would the issue with functionalism be replied if we somehow happened to envision the psyche as though it were bound together? Maybe one could take a gander at individual mental states and envision that some of them could depict certain angles? for example memory and tackling issues, yet no sort of feeling or cognizance. In the event that the PC for instance would depict any of the previously mentioned, for example, memory or taking care of issues without anyone else, one would not discuss the PC with having a brain or not. One would talk about the PC as having had the option to tackle an issue and utilizing its ability for memory to store the information and so on. Would one inquire as to whether it has a psyche, albeit, one would prefer to enquire about its ability for memory, its double dealing and so forth. The qualities and shortcomings have been expressed for functionalism. It is an odd hypothesis that non-living things could offer ascent to various mental occasions. With the goal for us to comprehend on how our psyche functions, we have to comprehend these procedures. Just one sort of cerebrum state is required by functionalism, so as to relate with occasions in our mind. It additionally appears, that, functionalism is subject to things which are physical as opposed to including mental occasions from the start. It unquestionably forgets about feelings and thinking. The reason for functionalism is by all accounts input yield as it were. Lets state, somebody steps on a pin and they yell. The functionalists see appears to show that fake creatures and frameworks could deliver their own awareness and contemplations. Regardless of whether mechanical progressions of extraordinary extent can be made, a machine couldn't duplicate the sentiments and contemplations of a human. These models would incorporate pressure, tension, anxiety and so on.. It is odd to believe that a machine could be creating a character that feels anxious or has an ethical commitment to things. It maybe perhaps the case that functionalists are diving extremely somewhere down so as to discover and legitimize their hypothesis on mental states and mental occasions.

Free The Monk and the Riddle Book Review Sample

Free The Monk and the Riddle Book Review Sample Question One: What was astonishing or distinctive about this book comparative with what you think about business enterprise? Prior to perusing this book, the part of business enterprise that I had as a top priority was that of searching for circumstances wherein to accomplish budgetary fulfillment throughout everyday life. Growing up, I comprehended that being a business person involved setting up organizations and adventures, which will achieve major money related returns. Be that as it may, perusing The Monk and the Riddle gave me an alternate point of view regarding the matter of being or turning into an effective business visionary. The creator gives definite desires from the business enterprise field that is totally different from what I had as a main priority. As indicated by the book, being a business person ought not be about the outcome which a great many people bank on monetary accomplishment however should concentrate for the most part on the excursion towards achieving the set objectives (Komisar and Kent 21). Business enterprise should lay accentuation on administration, the board, energy, and drive which help characterize a person. At long last, a business visionary will be compensated from the excursion embraced in the business instead of the result. Being a fruitful business person implies that an individual, through the business, picked up fulfillment monetarily as well as in understanding. Any eventual business visionary needs to set up objectives which takes into account accomplishment of fulfillment in work itself. Another outstanding contrast regarding the matter is the capacity of any business visionary to give up off control. The attitude of all business visionaries is that they need have control and impact in their endeavors. Be that as it may, the creator completely investigates the upsides of giving out control to other capable individuals so as to take into consideration the development of the business. While examining about administration, the creator encourages business pe ople to get individuals to do what should be accomplished for the business and this could wind up being improved. Authority is a craftsmanship and business visionaries must urge individuals to surpass their own desires, motivate individuals to be incredible and get them all to cooperate in amicability. Question Two: What are your impressions of Lenny? For what reason was Randy ready to give Lenny his time? The impression I got of Lenny is that of any contemporary business person endeavoring to have his dare to get in the market. Lenny has extraordinary thoughts of what he needs his dare to be however has his eyes shut to the truth of business enterprise. From the conversation introduced by his collaboration with Randy, it is obvious that Lenny appears to be certain about his way to deal with business and the proposed marketable strategy however needs sight on the sound essentials of the underlying industry thought. Lenny has the mindset of moving in the direction of accomplishing budgetary targets from his endeavor. From the thought introduced to Randy, the eventual business person has confused expectations on the business front wanting to accomplish everything without help from others. Lenny accepts as a business person, he ought to be in charge of everything in his business from improvement to usage. Nonetheless, this is an off-base impression of the excursion towards achieving fulfi llment in work. Lenny depicts a commonplace Eastern pushy-sales rep suit, engaged with the business for the cash compensates as it were. (Lambing and Charles) Regardless of the desire introduced to Randy by Lenny, the last is prepared and ready to help him on the grounds that as a built up business visionary it is basic to give rules to other would - be business visionaries. Randy cautiously tunes in to Lenny on the grounds that he needs the youthful business visionary to drop the potential money related prizes point of view and spotlight on fulfillment. All the more along these lines, Randy gives guidance, contacts, and administration for business people needing experience like Lenny. The fundamental job Randy plays is aiding would-be business people through the underlying period of business improvement and afterward resigns to the less focal job of guide. Randys guidance to Lenny is that a pioneer with numerous thoughts however needs vision and enthusiasm will lead his business to the channel. Question Three: What do you consider the Deferred Life Plan? In the book, the writer takes note of the propensity of individuals in the contemporary world yielding their current life to difficult work and winning a living to ensure their future presence. In more straightforward terms, this is carrying on with a conceded life plan whereby one denies oneself an average way of life for the sake of securing what's to come. The creator contends that individuals don't need to forfeit their lives so as to achieve things they are enthusiastic about, be it busy working or in business. In my comprehension, the hypothesis and practicability of conceded life plan is genuine among youngsters particularly those joining the work advertise. The vast majority participate in exercises, work, or business, which they have little enthusiasm however hold tight to them for budgetary fulfillment. Curiously, this budgetary fulfillment doesn't come to fruition and the very individuals wind up losing on different fulfillments they could pick up busy working. Putting off what you truly love to do and taking part in different exercises or business, which is less; palatable is the start of driving a conceded life plan. By not chipping away grinding away and business, one is enthusiastic about methods conceding feeling of fervor and enthusiasm for what you truly care about throughout everyday life. Komisar further clarifies that is buckling down isn't conflicting with the conceded life plan however buckling down for things that bring less fervor and intrigue is a piece of conceded life plan (Komisar and Kent 35). Contrasting the hypothesis and the genuine life setting, with the conceded life plan, one winds up prevailing on things, which don't make a difference in their life. All the more naturally, conceded life plan prompts accomplishing at something, which has no meaning of the genuine, you. As people, we have to guarantee that we get fulfillment in whatever we do and this ought to be at a sensible age. It isn't fulfillment when we need to hold as long as sixty years or more to begin appreciating life. Question Four: What do you consider the development of Lennys opportunity? What worth does Lenny get from Randy and the VCs? The development prove in Lennys opportunity is extraordinary as it offers him and different specialists to take part in exercises, which realize fulfillment. The open door made doesn't just guarantee budgetary rewards yet in addition work fulfillment. The open door further presents Lenny with an opportunity to take part in an undertaking for the correct reasons as opposed to looking for money related fulfillment as it were. In looking for help from individuals progressed in the issues of enterprise, Lenny acquires data on different parts of business. Randy offers Lenny inside and out guidance on what investment firms require, concentrating on the attributes of CEOs during different periods of the foundations. In this manner, Lenny comprehends the contrast between a decent director and a decent pioneer, which as a future CEO of a business is important data. The executives and initiative aptitudes are an essential for anybody planning to set up any sort of adventure. With time, the proprietor of the business should give up off the control of the business and this, Randy clarifies requires significant administration aptitudes. Lenny discovers that the pith of business is for the business person to procure all round fulfillment at all phases of life. The exercises occupied with by the business person ought not confine the laborers from accomplishing fulfillment at all levels. Being a business person implies setting out on an excursion for silly and energetic individuals who have faith notwithstanding question. All the more along thes e lines, the importance of imparting thoughts on business enterprise to other experienced individuals will help support the underlying objectives. VCs are driven by hazardous thoughts consequently need potential pioneers to direct them and not simply devotees.

Impulsive Decisions

Impulsive Decisions Happy Holidays everyone! I cant believe another semesters done and over with pushing me officially past the halfway point at MIT. (AHHH). Im now sitting at home, trying to relax but not quite, because there is a LOT of work to be done. But how could this be! Its Christmas! Well, lets back up a little bit… For one reason or other that I cannot fully explicate, this semester has been a blur, passing by faster than I could process. While one always needs a certain level of conscious judgment to go to classes, carry on coursework, etc., I feel like this semester, Ive been putting school on cruise control. This functionality might come from having been at MIT for a while already from becoming an upperclassman and developing a programmed rhythm for handling a semester, all the way from pre-registering classes to finals… A parallel (or antithesis?) to this apparent cruise control on the school side is a burgeoning urge to just LET. LOOSE. and jump on everything not class related. Im not sure if this makes sense, but basically this has been an impulsive semester. Early in the school year, I kept getting emails about spending IAP  all-expenses paid in Korea, teaching kids science/English. I never gave it a second thought, because its just not something I imagined doing during IAP. But one night in September, I was checking my emails, writing down my French Word of the Day and then  Korean Word of the Day, and then a lightbulb literally went off in my head. I could be learning Korean from these emailsor I could be learning Korean in Korea !? I mean, why CANT I be on the other side of the world during IAP? Why MUST I do something completely career-related (the career part of which Im not totally sure about yet anyway)? So I just grabbed a notebook, jumped on my bed, wrote down ideas, and sent in an application. So here I am on Christmas Day, putting together several weeks of teaching materials for this Jeju Global Initiative, which is a very new project aiming to connect MIT students with talented young students in Korea who already have some experience in English. The bigger goal here then is to inspire an interest in science, technology, debate, and thinking-out-of-the-box in general. Twenty-two students, myself included, will be heading to Jeju Island, Korea and teaching courses on site at Jeju National University. Over the month of January, I will be teaching a three-week class on the impact of design and a one-week class on the power of modern media. Were also doing night-time lectures on random, fun topics. Some of my topics are: typography, American slang, hip-hop, and rapid prototyping. And Jeju Island itself isnt too shabby :P But well be going in Januaryso maybe itll be more like this. Anyways, side story This semester, I also got my ears pierced for the first time. You know, if youre a girl and you didnt get your ears pierced by your parents when you were a baby, or before 7 years old, or during that preteen phase when everyone did it its going to take some convincing. Or maybe I just think too much. Anyway, Ive been considering getting my ears pierced for several years now, but  just couldnt go through with it. The first phase of doubt was simply pain. (But I didnt want to admit to being a baby and got over that.) Then it was the practical concern of too much maintenance and inconvenience. (Again, this seemed lame.) And most recently, I preoccupied myself with a more high-brow excuse: I dont want any part of my body altered from the way it originally was. (Yeah….ok.) Despite this towering pyramid of the stages of psychological defense, I went to a piercing parlor with my good friend Juhee on a random Wednesday and got it done. (Shoutout to the Juhee who got the industrial piercing that day and made sure I did not back out).  At the turn of November, I havent really gotten over all those previous concerns but getting my ears pierced suddenly felt like somethingIjusthavetodonow. Inexplicable, but I did it! And its done! And theres no going back! And Im very happy about it :) I was chatting with a friend in studio in the middle of the night about one thing weve both learned this semester so much can change in just one week.  It took just a minute or two for me to decide I want to do the Jeju program, and another to decide on pierced ears. Live anticipating nothing but surprise, often from yourself. :) On that note, I am leaving on Wednesday and will update from Korea! Have good winter breaks everybody ~

Romeo - A Character Profile From Romeo and Juliet

One of the original star-crossd lovers, Romeo is the male half of the ill-fated pair who drive the action in the Shakespearean tragedy, Romeo and Juliet. Much has been written about the origins of the character, as well Romeos influence on other young male lovers throughout Western literature, but rather than a role model to be emulated, Shakespeares Romeo is an enduring example of young love gone horribly wrong.   What Happens to Romeo The heir of the House of Montague, Romeo meets and becomes enamored with Juliet, the young daughter of the House of Capulet. Most interpretations of the story estimate Romeo to be about 16 years old, and Juliet to be just shy of her 14th birthday.  For reasons unexplained, the Montagues and Capulets are bitter enemies, so the young lovers know their affair will anger their families, however, the titular couple isnt interested in family feuds, and instead, they choose to pursue their passion.   While Romeo and Juliet secretly marry with the help of his friend and confidant, Friar Laurence, the two are doomed from the start. After Juliets  cousin Tybalt kills Romeos friend Mercutio, Romeo retaliates by killing Tybalt. For this, he is sent into exile, returning only when he hears of Juliets death. Unbeknownst to Romeo, Juliet—who is being forced to marry Paris (a wealthy suitor favored by her father) against her will—has come up with a scheme to fake her own death and be reunited with her true love. Friar Laurence sends a message to Romeo informing him of her plan, but the note never reaches Romeo. Romeo, truly believing Juliet is dead, is so heartbroken, he kills himself in a fit of grief, at which point, Juliet awakens from the sleeping draught shes taken to find Romeo is no more. Unable to bear the loss of her love, she too, kills herself—only this time, for real.   Origins of the Romeo Character Romeo and Juliet make their first appearance in Giulietta e Romeo, a 1530 story by Luigi da Porto, which was itself adapted from Masuccio Salernitanos 1476 work Il Novellino. All of these works can, in some way or other, trace their origins to Pyramus and Thisbe, another pair of ill-fated lovers found in Ovids Metamorphoses. Pyramus and Thisbe live next door to each other in ancient Babylon. Forbidden by their parents to have anything to do with one another—thanks again to an ongoing family feud—the couple nevertheless manages to communicate through cracks in the wall between the family estates. The similarities to Romeo and Juliet dont end there. When the Pyramus and Thisbe finally arrange a meeting, Thisbe arrives at the predetermined spot—a mulberry tree—only to find it being guarded by a menacing lioness. Thisbe runs away, accidentally leaving her veil behind. Upon arriving, Pyramus finds the veil, and believing the lioness has killed Thisbe, he falls on his sword—literally. Thisbe returns to find her lover dead, and then she too dies of a self-inflicted wound from Pyramus sword.   While Pyramus and Thisbe may not have been Shakespeares direct source for Romeo and Juliet, it was certainly an influence on the works from which Shakespeare drew, and he used the trope more than once. In fact, Romeo and Juliet was written in a concurrent timeframe to A Midsummer Nights Dream, in which Pyramus and Thisbe is staged as a play within a play—only this time for comedic effect. Was Romeos Death Fate? After the young lovers die, the Capulets and Montagues finally agree to end their feud. Shakespeare leaves it mostly to his audience to decide whether or not Romeo and Juliets deaths were predestined as part of the legacy of their families longstanding enmity, or if perhaps the conflict might have been ended by more peaceful means had the families been willing to embrace love rather than hate.

Greek Mythology An Oral Tradition - 1449 Words

Greek mythology was an oral tradition that began in the Bronze Age. Greek mythology was used as a means to explain the environment, the natural phenomena they witnessed, and the passing of time through days, months, and seasons (Cartwright). Around 700 BC, a poet named Hesoid, offered the first origin story of Greek mythology. The Theogony details an elaborate family tree of gods and goddesses who evolved from a primeval void and descended from Earth, the sky, the sea, and the underworld (History.com). Later Greek writers and artists used and elaborated these sources in their work and compiled ancient myths and legends for contemporary audiences (History.com). For the Greeks, these ancient gods and goddesses had control over every aspect of their lives. The ancient Greeks believed there were a great number of gods and goddesses. They could be kind or mean, angry or pleasant, cruel or loving (â€Å"Gods and Goddesses†). 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A Successful Business Turn Your Passion Into Profits Essay

How To Start And Grow A Successful Business - Turn Your Passion Into Profits By Krisz Rokk | Submitted On January 01, 2013 Recommend Article Article Comments Print Article Share this article on Facebook 1 Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest Expert Author Krisz Rokk More than 60 percent of businesses close doors within the first year of starting operations because of a number of constraints. For you to start a business and succeed, you need to have a lot of determination, resilience, self-discipline and focus. Businesses such as Apple were able to succeed because their founders had adequate focus and inner drive to take the business to the next level. Here are eight key things you should know to start and grow a successful business: 1. Follow Your Inner Passion As a matter of fact, achieving success in life is not a prerequisite for those who want to be happy. However, happiness is mandatory if success is to be achieved. Success is achieved by those who love what they are doing. It is advisable for anyone who wants to start a business to select something that he or she loves the most, but this should be something that has a market. If you choose something that can t sell, there is high probability that your efforts will never pay off. 2. Work on YourShow MoreRelatedTurn Your Passion Into Profits Essay716 Words   |  3 PagesTurn Your Passion Into Profits By Marcia Weider Jul 2, 2011 In business, dreaming is serious business and the driving force for transformation. Without vision companies fail, and without our personal vision, our dreams, our lives, can become mundane, redundant -- even stagnant. When we are in touch with our passion we have more energy, enthusiasm and creativity. In a business context passion sells. 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He opened the first Wal-Mart Discount City Store in 1962 in Rogers, Arkansas.[2] In 2003, the company operates more than 4,000 stores worldwide. In 1999, with 1,140,000 associates, Wal-Mart became the largest private employer in the world.[3b] What made Sam Walton a successful business leader in the retailer industries? Walton’s will to turn setbacksRead MoreEssay 5 Questions To Ask To Know YouRe Investment Ready1365 Words   |  6 PagesQuestions to Ask to Know You’re Investment Ready In the lifecycle of a startup, nothing is as important as fundraising. You will need investment to turn your business idea into reality. But just because your startup needs money, doesn’t mean it’s ready to attract investment. Indeed, plenty of startups fail to raise funds. So, how do you determine your startup’s investment readiness and what does it mean? 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Lump Sum Payment Was Recurring In Nature †Myassignmenthelp.Com

Question: Discuss About The Lump Sum Payment Was Recurring In Nature? Answer: Introducation Eric has procured etc various assets like collectibles, personal use assets, in the last year and because of appropriate information in the question, it is assumed that such assets are not held more than a year. As a result, the indexation advantage cannot be availed by Eric owing to such holding period and when the sale value of such assets exceed their acquisition cost, they become liable for capital gains tax (ATO, 2017). The reason behind the purchase of personal assets can be attributed to the fact that these facilitate self-use and enjoyment. Furthermore, if the procurement expense of these assets is more than $10000, then the capital gain tax shall incur on the sale of such assets. Eric has purchased a home sound system for $12000 in the given case. In addition, collectibles have been purchased for personal benefit as well and if their procurement expense is more than $500, then taxability of capital gain tax must incur upon the same (ATO, 2017). Eric has purchased collectibles like painting, an antique vase, and antique chair respectively. It can also be witnessed from the case that he has purchased some shares in a listed company that pursues a procurement expense of $5000. For computation of capital gain, the sales proceeds must be deducted from the procurement cost of the assets List of assets acquired by Eric Sale consideration Procurement expense of such assets Net capital loss or gain Antique Chair $3,000 $1000 $2000 Loss Antique Vase $3000 $2,000 $1000 Painting $1000 $9,000 $8000 Loss Home sound system $11000 $12,000 $1000 Loss listed company shares $20000 $5,000 $15000 Net capital gain= $5000 Based on the above computation, it can be seen that the losses for the year have been set-off with the income in the same year so that net capital gain can be determined. Furthermore, it must also be noted that the above-mentioned assets have formed part of the computation because their acquisition cost is more than what is specified for taxability of capital gain. Overall, after considering all such scenarios, the net capital gain comes to $5000 for Eric in the given year. It can be seen in the given case that Brian has been offered a loan of $1 million from his employer at a very special rate of interest that is repayable in monthly installments. This criterion is similar to that of a loan fringe benefit because, in this benefit, the employer attempts to offer his employee a loan at a special rate of interest (lesser than that of the required rate of interest). Sometimes, in such benefit, no interest is charged from the employee (Pratt Kulsrud, 2013). Thus, since in the given question as well, the criterion prevails, the loan offered to Brian will be considered a loan fringe benefit. Furthermore, to compute the taxability of such benefit, such required interest rate must be known and since the question does not specify the same, the interest rate on April 1, 2016, shall be considered the statutory or required interest rate. On April 1 2016, the rate was 5.65% respectively. The taxable amount of such benefit will be computed here without accounting for the deductible rule. For such purpose, the loan interest (actual interest) will be deducted from the loan interest (required or statutory interest). Therefore, loan interest (actual interest) = $1000000 * 1% = $10,000. Similarly, the loan interest (statutory) = $1000000 * 5.65% = $56,500 Taxable amount is equal to $56,500 - $10,000 that amounts to $46,500 The loan interest (required or statutory interest rate) will be computed after assuming that the same was actually payable by Brian. Hence, it amounts to $10,00,000 * 5.65% that gives $56,500 The loan amount of one million obtained by Brian has been utilized for meeting future obligations and other income generating purposes. He has used around forty percent of such loan. Therefore, the amount of hypothetical tax-deductible interest expenses will amount to $56,500 * 40% that gives $22,600 respectively. In this step, the same criterion as mentioned above will be considered, except the fact that the interest expense will not be hypothetical and instead, it will be the actual interest amount. Therefore, it shall amount to $10,000 * 40% that gives $4000 The amount obtained in step (d) will be subtracted from the amount obtained in step (c). Hence, it will amount to $18,600 ($22,600 - $4000) The final amount will be computed by subtracting the amount derived in step (e) from the amount in step (a). Therefore, this amounts to $27,900 ($46,500 - $18,600). Instead of monthly installments, if the interest was repayable after the expiry of the loan, then the deemed time of such loan would be considered from the time when such interest was paid or it became payable as a whole. It can be observed from the given question that an agreement has been entered into betwixt Jack and Jill so that they can purchase a rental property with the borrowed money. Besides, based on the agreement, both are going to serve as joint tenants of the purchased property. However, if they decide to sell the same in the upcoming future, Jill shall obtain 90% of the profits while Jack will attain the rest. In addition, if there is no gain from the sale of such property, the entire amount of loss shall be borne by Jack alone (Renton, 2005). Nevertheless, it can be seen that the loss amount of $10,000 incurred in the last year must be borne by Jack alone and the amount can either be added to his other income (if any) or can be carried forward in the next year. With the help of this right, Jack can easily make use of the loss amount to determine his total income for the year. Nonetheless, if the property is sold, there may be either a loss or income from the same. In the case of gain, both Jack and Jill shall share the profits but in the ratio of 10:90 and Jack can also utilize the losses incurred last year to set-off against the income accruing in the current year so that net income can be calculated. In contrast to this, if there is a loss from the sale of such property, Jill is under no obligation to bear the same because as per the agreement, the entire loss must be borne by Jack alone (Sadiq et. al, 2014). However, he can carry forward the same or set-off the same in order to ascertain his total income for the year. Therefore, on a whole, it can be concluded that in the given case, the sharing of profits is done in the ratio of 10:90 while the losses will be borne by Jack alone. Thus, the treatment of tax does not affect Jill in any circumstance and Jack remains always liable to bear the entire amount of losses in his books of accounts. The case of IRC v Duke of Westminster [1936] AC 1 assists in representing the principle that every person has full right to manage his accounts and financials that can allow him to minimize his total tax payable in a year. Besides, it is also mentioned in the case that if any person is successful in minimizing his total tax payable by the adoption of legal ways, then even the Commissioners of Inland Revenue does not have any right to stop them from doing so. The only requirement that this case law necessitates is that the documents depicting the truthfulness of the transaction must be genuine in nature and then the courts even cannot rely on some underlying framework to contradict their doings. Nevertheless, with due course of time, the significance of this rule has been lost because of the arrival of many other similar case studies in this regard (Adams, 2011). As a result, the viewpoint of people in relation to the observation of accounting and taxation affairs has become distinct in nature in the current situation. The utmost significance of this rule in the current scenario is that it plays a key role in preventing the organizations from influencing relevant material from the financial statements. This means that the rule assists every organization and individuals to operate their affairs in a genuine way (Adams, 2011). For instance, a business organization can make use of legal ways to write off its fixed assets to their respective carrying value so that the losses and debts that are exerting pressure over it can be avoided. In such a scenario, even if such business organization does not have proper relevant documents in regard to the same, then also it will be sufficient to just write off the fixed assets (Nethercott et. al, 2013). However, such business organization must not try to engage in illegal methods to manipulate their material information from the financial statements because this rule restricts them from doing so. The owner of a big piece of land accommodating hue pine trees intends to graze his sheep on such land but the prevalence of such trees obstructs him from doing so. Bill who is the owner wants to hire a logging company for the same so that the company can obtain as much as timber from his land and in return, he is compensated. In the first case, it can be seen that Bill intends to receive $1000 for every meter of timber cleared by the logging company. In this case, since a number of receipts is not provided, the same will be regarded as a revenue receipt. As a result, it must not attract capital gains tax (Cartwright, 2013). However, in the second case, it can be seen that Bill intends to receive $50000 as a lump sum amount for clearance of the entire trees from his land. This receipt is purely a capital receipt because of the following reasons: The receipt is incurred only after granting of a right by Bill to clear the entire trees from the land. It is not a small payment and instead, it is lump sum in nature. It is a non-recurring receipt because, after clearance of trees, they will take time to grow once again. Therefore, this receipt will be regarded as a capital receipt and hence, will attract capital gain tax as well. On a whole, even though in both the cases, Bill receives some amount of money, yet their nature is altogether distinct. Besides, the criterion of a capital receipt as mentioned above is not visible in the first case because it was not a lump sum payment and it was recurring in nature. In contrast to this, the second case occurs only after giving a right to the logging company and it can be treated as a sale of an asset to a company (Nethercott et. al, 2013). Whilst the first case is taxable at normal rates, the second case is taxable under capital gains. References Adams, J. (2011). What is The Difference Between Tax Avoidance and Tax Evasion?. Accessed September 19, 2017 from https://www.taxinsider.co.uk/680-What_is_The_Difference_Between_Tax_Avoidance_and_Tax_Evasion.html ATO. (2017). Capital Gain tax. Accessed September 20, 2017 from https://www.ato.gov.au/general/capital-gains-tax/ Cartwright, M. (2013). Death to the Australia Tax?. Accessed September 19, 2017 from https://www.ato.gov.au/Individuals/Deceased-estates/Being-an-executor/Tax-responsibilities Nethercott, L, Richardson, G Devos, K. (2013). Australian Taxation Study Manual. Oxford University Press Pratt, J.W Kulsrud, W.N. (2013). Federal Taxation. Penguin Publishers. Renton N.E, (2005) Income Tax and Investment. John Wiley Sons Australia Ltd Sadiq, K, Coleman, C, Hanegbi, R, Jogarajan,S, Krever, R, Obst, W, Ting, A. (2014). Principles of Taxation Law. Sydney