A Health Insurance Program Available to Those Over the Age

question 89

Multiple Choice

A health insurance program available to those over the age of 65 or to those who are disabled is known as:

• A) a pension plan.
• B) an HMO.
• C) a traditional health insurance plan.
• D) Medicare.
• E) short term disability insurance.

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Definitions:

Revenue Recognition

The accounting principle that dictates the specific conditions under which income becomes recognized as revenue in the financial statements.

Secondary Characteristics

Refers to the additional properties or features of a financial instrument, entity, or market mechanism that support its primary functions.

Accounting Information

Data related to the financial transactions and status of an organization, used for analysis, decision making, and financial reporting.

Representational Faithfulness

A concept in accounting that assets and transactions are recorded and reported in a manner that accurately reflects economic reality.