Paige’s organization provides group health insurance. The plan covers “major medical” costs for each employee in any given year that total more than $10,000. Her group health insurance is a ________.
A. fee-for-service plan
B. health maintenance organization
C. high-deductible health plan
D. health savings account service
E. low-deductible health plan
C. high-deductible health plan
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Which of the following can be classified as a mutual-benefit organization?
A. Trade association B. Hospital C. Financial company D. Retail company E. College
Office furniture was purchased for $45,000 . It had an estimated residual value of $7,000 and has a current carrying value of $9,000 . Its depreciable cost must have been
a. $36,000. b. $38,000. c. $32,000. d. $29,000.
Which type of fund is created during a campaign’s quiet phase?
A. major B. nucleus C. nest egg D. wrap-up
A company purchased a delivery van on October 1 of the current year at a cost of $40,000. The van is expected to last six years and has a salvage value of $2,200. The company's annual accounting period ends on December 31.1. What is the depreciation expense for the current year, assuming the straight-line method is used?2. What is the book value of the van at the end of the first year?
What will be an ideal response?