Cheri Drives into Domestic Auto Service and Asks to Have

question 47

Multiple Choice

Cheri drives into Domestic Auto Service and asks to have a tire replaced on her car. Domestic replaces the tire. Before Cheri pays for it, any contract between them is

• A)executed.
• B)executory.
• C)void.
• D)unenforceable.

Comprehend the use of electronic healthcare transactions and their benefits.

Recognize and explain coordination of benefits clauses and their importance in insurance policies.

Describe prescription medication coverage under Medicare.

Understand the concept of pre-authorization for medical procedures and its importance in healthcare coverage.

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Definitions:

Section 1231 Asset

A tax term referring to depreciable property or real estate used in a trade or business that, if sold, can result in favorable capital gains treatment.

Ordinary Gain

Gain characterized as ordinary income for tax purposes, typically resulting from the sale of assets not considered capital assets.

Sold

The act of transferring ownership of an item or asset for money or value in exchange.

Basis

The amount of investment in an asset for tax purposes, used to calculate gain or loss on the asset's disposition.