Disease Management Programs

question 57

Multiple Choice

Disease management programs:

• A) are comprehensive insurance benefits that serve as supplemental health insurance
• B) assist employees by providing information on monitoring and treating health conditions
• C) are work-site fitness programs
• D) are a major portion of worker's compensation insurance

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Definitions:

Weighted-Average Method

An inventory costing method that calculates the cost of ending inventory and the cost of goods sold based on the average cost of all units available for sale during the period.

Equivalent Units

A concept in cost accounting that converts partially completed goods into a number of completed units for inventory valuation.

Materials

Raw inputs or supplies that are converted into finished products through the manufacturing process.

FIFO Method

"First In, First Out", an inventory valuation method where the first items placed into inventory are the first sold, affecting the cost of goods sold and inventory value.