A Study by Merlis Et Al

question 60

Multiple Choice

A study by Merlis et al.(2006) indicated that 13 million U.S.families had an out-of-pocket medical cost that met or exceeded _____ of their annual incomes.

• A)6%
• B)8%
• C)10%
• D)12%

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Definitions:

Net Assets

The total assets of an organization minus its total liabilities, representing the owners' or shareholders' equity.

Credit Balance

A situation where the amount of credits in an account exceeds the debits, often indicating money owed by the institution to the account holder.

Long-Term Liabilities

Debts or obligations a company owes that are due beyond one year's time, such as bonds payable, long-term leases, or pension obligations.

Common Stock

A type of equity security that represents ownership in a corporation, with holders typically having a vote in corporate matters.