A Policy That Covers a Number of People Under a Single

question 7

Multiple Choice

A policy that covers a number of people under a single master contract issued to the employer or to an association with which they are affiliated and that is not self-funded is usually called:

• A)group coverage
• B)individual coverage
• C)a government plan
• D)a self-insured plan

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Definitions:

Ordinary Maintenance

Ordinary maintenance involves the routine upkeep and repairs necessary to maintain assets in their current condition, without significantly enhancing their value or extending their life.

Asset Improvements

Expenditures made to increase the service life, operating efficiency, or productive capacity of an asset.

Ordinary Maintenance

Routine upkeep and repairs to keep equipment and facilities in working order, as opposed to major renovations or upgrades.

Accumulated Depreciation

The total amount by which an asset's value has been written down over time to reflect wear, tear, or obsolescence.