Which of the Following Is the Amount That the Insured

question 81

Multiple Choice

Which of the following is the amount that the insured individual must pay before the health insurance company will contribute any funds to pay the medical bills?

• A) Premium.
• B) Copayment.
• C) Deductible.
• D) Coinsurance.

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Definitions:

Interim Financial Report

A financial report covering a period of less than one fiscal year that provides an update on a company's financial status.

Inventory

The raw materials, work-in-process products, and finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.

LIFO Method

A method of inventory valuation where the last items added to inventory are the first ones to be used or sold.

FIFO Method

An inventory valuation method that assumes the first items purchased are the first ones sold, standing for "First-In, First-Out."