Choose the Word or Phrase in [ ] Which Will

question 119

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-When there is a co-insurance or participation clause in a health insurance policy,the amount the insurance will pay is computed [before | after] the deductible is paid.

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Definitions:

Fair Value

The income expected from liquidating an asset or the cost associated with delegating a liability in an organized market interaction at the measurement moment.

Goodwill

The intangible asset that arises when a company is acquired for more than the fair value of its net identifiable assets, representing reputation, brand, and other non-physical values.

Journal Entries

These are records of financial transactions in the accounting system, made in chronological order.

Consolidated Financial Statements

Financial statements that aggregate all assets, liabilities, and operating activities of a parent company and its subsidiaries.