Which of the Following Is NOT True Regarding Medicaid

question 32

Multiple Choice

Which of the following is NOT true regarding Medicaid?

• A)Medicaid covers approximately one­fifth of the county's population.
• B)Medicaid is means tested with eligibility determined by whether an individual falls below a floor set by the federal government.
• C)Medicaid costs federal and state governments more than $300 billion a year to operate.
• D)Funding for Medicaid is largely supplied by the federal government,with states picking up less than 10 percent of the tab.

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Definitions:

Single-Step Income Statement

A simplified income statement that summarizes revenues and expenses in a single step, without categorizing them.

Sales Revenue

Financial income derived from transactions involving the sale of products or provision of services over an interval of time.

Gross Profit Rate

The ratio of gross profit to total sales, indicating the percentage of revenue that exceeds the cost of goods sold.

Net Income

The amount of earnings left after all expenses, including taxes and operating costs, have been subtracted from total revenue; a measure of company profitability.