A Special Tax Shelter Set Up for the Purpose of Paying

question 45

Multiple Choice

A special tax shelter set up for the purpose of paying medical bills is a/an:

• A) indemnity plan.
• B) managed care plan.
• C) tax shelter contract.
• D) medical savings account.

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Definitions:

Harvest

The process of gathering mature crops from the fields.

Revenue

The total amount of money received by a company or government from its activities, such as sales of goods and services, before any expenses are subtracted.

Profit

Profit is the financial return or gain achieved from an investment or business venture after subtracting all expenses and costs.

Equilibrium Price

The price at which the quantity of a good or service supplied matches the quantity demanded, leading to market balance.