Under the Affordable Care Act, if a health insurer does not meet the minimum loss ratio requirement, the insurer must
A) pay a fine to the federal government.
B) issue rebates to the people the insurer covered.
C) not sell any health insurance for a period of one year.
D) reduce the premium on the policies it sells the following year.
Answer: B
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Lewis Corporation reported the following information for the year ended December 31, 2015: Net income $ 10,000 Dividends 6,000 Retained earnings at December 31, 2015 25,000 What was the economic effect of the payment of Lewis' dividends?
a. The dividend reduced net income for 2015. b. The dividend should be equal to net income if the company's accounting equation is in balance. c. The dividends reduce total retained earnings for the year. d. The dividends must be paid whenever Lewis Corp. reports net income.
A manufacturing company has prepared the operating budget and the cash budget and is now preparing the budgeted balance sheet. The balance of Finished Goods Inventory can be taken from the ________.
A) production budget and cost of goods sold budget B) financial budget C) cash budget D) selling and administrative expenses budget
Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production$65,000Wages paid to the workers who paint the figurines$90,000Wages paid to the sales manager's secretary$22,000Cost of junk mail advertising$47,000What is the total of the product costs above?
A. $155,000 B. $0 C. $159,000 D. $69,000
When targeted to members of a channel on which a firm relies to sell a product, ________ is an important element of a push strategy.
A. consumer advertising B. institutional advertising C. sales promotion D. public relations E. personal selling