Which of the Following Statements Concerning Insurance for Health-Care Services

question 12

Multiple Choice

Which of the following statements concerning insurance for health-care services is true?

• A) Most workers purchase their own insurance.
• B) State governments are the providers of Medicare and Medicaid.
• C) In the United States, only private firms provide health insurance.
• D) Subscribers to insurance plans may pay a small percentage of the cost of the health care they consume.

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Definitions:

Break-even

The point at which total costs equal total revenue, meaning there is no profit or loss.

Sales Dollars

The total revenue generated from the sale of goods or services, often measured within a specific period.

Total Period Cost

Refers to the sum of all costs associated with production and operations for a specific period.

Variable Costing

An accounting method that assigns only variable production costs to products - those costs that fluctuate with the level of production, such as raw materials and labor.