​Phillip and Naydeen Rivers Are Married with Two Dependent Children

question 1

Multiple Choice

​Phillip and Naydeen Rivers are married with two dependent children. The family has household income of $38,160 in 2015. They paid $11,000 for health care for the year. A designated silver plan would have cost $9,800. What is the Rivers' premium tax credit?

• A)​$0
• B)​$1,413
• C)​$8,387
• D)​$8,098
• E)​$9,800

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Definitions:

Formalization

The extent to which rules, procedures, job roles, and communications within an organization are written and explicitly articulated.

Close Supervision

refers to a management approach where managers or supervisors closely monitor and direct the activities of their subordinates, ensuring tasks are performed accurately and efficiently.

Complex Environment

refers to situations or systems that are intricate and difficult to understand or predict due to numerous interdependent elements and variables.

Departmentalization

The method of segmenting an organization into various departments, each responsible for distinct tasks or functions.