The Affordable Care Act Originally Required That State Governments

question 100

Multiple Choice

The Affordable Care Act originally required that state governments

• A)expand their Medicaid programs to cover more poor people or lose all of the Medicaid funds they receive from the federal government.
• B)eliminate their Medicaid programs or lose all of the categorical grants they receive from the federal government.
• C)expand their Medicare programs to cover citizens over the age of 50 or lose all of the Medicaid funds they receive from the federal government.
• D)expand their Medicare programs to cover citizens over the age of 40 or lose all of the Medicaid funds they receive from the federal government.

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Definitions:

Working Capital

The excess of the current assets of a business over its current liabilities.

Solvency

The ability of a firm to pay its debts as they come due.

Current Ratio

A financial ratio that is computed by dividing current assets by current liabilities.

Fiscal Year

A 12-month period used for accounting purposes and preparing financial statements, which may not align with the calendar year.