Identify the Choice That Best Completes the Statement or Answers

question 7

Multiple Choice

Identify the choice that best completes the statement or answers the question.
-Use of the EIN on a standard transaction is required

• A)to verify an employee's participation in the group health plan.
• B)when the sponsor of health plan is a self-insured employer.
• C)to identify when an employee is enrolled or disenrolled in a health plan.
• D)to identify the employer of a person covered under a health plan, when the employer is not the sponsor.

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Definitions:

Demand Curve

A graph illustrating how much of a given product a household would be willing to buy at different prices.

Perfectly Competitive

An economic model where numerous buyers and sellers exist, there's unrestricted entry and exit, and the product offered is uniform.

Market Price

The present cost at which a product or service is available for purchase or sale in the marketplace.

Profit

The financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.