Sylvester and JoAnn Have Both Been Laid Off Work During

question 97

Multiple Choice

Sylvester and JoAnn have both been laid off work during the last year and are now very poor.They found out that needy families can receive medical benefits through Medicaid.In addition,JoAnn found out that Medicaid can be used

• A)by the aged.
• B)by the blind.
• C)by disabled persons.
• D)for Medicare premiums,deductibles,and co-payments.
• E)all of the above.

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Definitions:

Partnership Interest

An ownership share in a partnership, representing a partner's stake in the assets and operations of the business.

Ordinary Income

Income earned through wages, salaries, commissions, and interest, which is taxed at standard federal income tax rates.

Dividend Income

Money paid to shareholders out of a corporation's profits.

Current Distribution

This refers to the disbursement of a fund's or company’s earnings to its shareholders or partners.