Ben's health coverage charges a low ($15) deductible each time he visits the doctor or hospital. Other than the low per-service deductible, there is very little cost sharing. However, Ben must go to the health care providers listed by the provider of the health coverage. If he goes to a provider that is not on the list, there is very little coverage. Which of the following types of entity most
likely provides Abe's health coverage?
a. HMO
b. Blue Cross/Blue Shield association
c. commercial insurer (major medical)
d. PPO
e. fee-for-service indemnity plan
A
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The most effective internal control procedure to prevent or detect the creation of fictitious credit memoranda for sales returns is to
a. supervise the accounts receivable department b. limit access to credit memoranda c. prenumber and sequence check all credit memoranda d. require management approval for all credit memoranda
A letter of transmittal accompanies and __________________ a report
a. validates b. justifies c. contradicts d. introduces
Select the incorrect statement regarding cost structures.
A. Faced with significant uncertainty about future revenues, a low leverage cost structure is preferable to a high leverage cost structure. B. The more variable cost, the higher the fluctuation in income as sales fluctuate. C. Highly leveraged companies will experience greater profits than companies less leveraged when sales increase. D. When sales change, the amount of the corresponding change in income is affected by the company's cost structure.
The legal standard that imposes tort liability on manufacturers when they produce a product negligently so that it hurts a consumer was first introduced in 1865
a. True b. False Indicate whether the statement is true or false