According to Benefit Consulting Company William M

question 85

Multiple Choice

According to benefit consulting company William M.Mercer,which of the following are steps that employers can take to help manage increasing health costs?

• A)all of the choices
• B)ask staff to pay 20 percent of any treatment instead of having a set employee-paid deductible
• C)when available,pay only for generic drugs
• D)ask employees to get larger amounts of "maintenance drugs" such as birth control pills to save on dispensing fees
• E)stop out-of-country medical coverage for personal travel

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Definitions:

Adjusting Entries

These are journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Expense Account

An account used to track expenditures or costs incurred by a business or an individual for operational purposes.

Asset Account

An account that tracks resources owned or controlled by a business or individual which have economic value.

Unearned Items

Income received for goods not yet delivered or services not yet provided, considered a liability until the goods or services are delivered.