When Was the Concept of Third-Party Payments and Prepaid Health

question 39

Multiple Choice

When was the concept of third-party payments and prepaid health insurance instituted?

• A)at the turn of the 20th century in the lumber and mining camps of the Pacific Northwest
• B)during World War I for families of those serving in the armed services
• C)during the Depression by Blue Cross/Blue Shield to provide reimbursement to subscribers
• D)in 1935 as part of federal legislation to establish Social Security

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Definitions:

Inventory Records

Documentation of a company's inventory levels, transactions, and movements, crucial for managing and valuing stock.

Asset Turnover Ratio

A financial metric that measures the efficiency of a company in using its assets to generate sales or revenue.

Total Assets

The sum of all resources owned by an entity, including cash, investments, property, and equipment, that are recognized in the balance sheet.

Statement of Stockholders' Equity

A financial document that shows changes in the value of a company's equity over a period through contributions by and distributions to shareholders and earnings.