All of the following are typical characteristics of individual medical expense coverage EXCEPT
A) annual benefit limits.
B) essential health benefits.
C) deductibles.
D) coinsurance.
Answer: A
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The capital accounts of Harrison and Marti have balances of $180,000 and $130,000, respectively, on January 1, 2010, the beginning of the current fiscal year. On April 10, Harrison invested an additional $20,000. During the year, Harrison and Marti withdrew $96,000 and $78,000, respectively, and net income for the year was $248,000. The articles of partnership make no reference to the division of
net income. Based on this information, the statement of partners' equity for the 2010 for the partnership would show what amount in as total capital for the partnership on December 31, 2010? A) $228,000 B) $176,000 C) $404,000 D) $752,000
Dirk Davis purchases a piece of industrial wasteland. He knows that there is contamination in the soil, but he also knows that it is buried very deep and believes that it won't become known for at least 20 years
He incorporates Florida Condos Ltd, builds a condominium tower, and sells all the units – without, of course, disclosing the contamination. He then has the corporation, of which he is sole shareholder and director, distribute all the profits to him as dividend. The contamination "surfaces" within 12 months and the condo owners want to sue. Florida Condos has no assets, however, so they want to sue Dirk personally. Which of the following is FALSE? A) It is generally very difficult to persuade a court to pierce the corporate veil. B) It is not enough that it be just and equitable to pierce the corporate veil. C) Since Dirk knew of the contamination, his conduct was tantamount to fraud and justifies piecing the corporate veil. D) Dirk will not be liable personally because it was corporation that sold the condos not him personally E) The court could hold Dirk personally liable for financial losses as well as punitive damages
A company made the following merchandise purchases and sales during the month of May: May 1Purchased380 units at$15 eachMay 5Purchased270 units at$17 eachMay 10Sold400 units at$50 eachMay 20Purchased300 units at$22 eachMay 25Sold400 units at$50 eachThere was no beginning inventory. If the company uses the periodic FIFO inventory method, what would be the cost of the ending inventory?
What will be an ideal response?