All of the Following Are True About the Patient Protection

question 37

Multiple Choice

All of the following are True about the Patient Protection and Affordable Care Act of 2010 EXCEPT that ________.

• A) individuals cannot be denied health insurance because of a pre-existing condition
• B) insurance companies cannot cancel a policy if the insured becomes sick
• C) individuals who do not purchase health insurance will be fined
• D) children over 21 cannot remain on their parents' policy

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Definitions:

Mark-up

The amount added to the cost price of goods to cover overhead and profit, expressed as a percentage of the cost.

Markdown

A reduction from the original or listed price of a good or service, often used to stimulate sales or clear out inventory.

Gross Profit

The financial term for the difference between revenue and the cost of goods sold, before deducting overheads, payroll, taxation, and interest payments.

Markdown

A reduction in the selling price of goods, typically to clear old stock or attract customers.