Darren Chase Has an Insurance Policy That Will Only Pay

question 21

Multiple Choice

Darren Chase has an insurance policy that will only pay for a maximum of 60 days of hospitalization during a year.Which provision in his insurance policy would specify this?

• A)Eligibility
• B)Assigned benefits
• C)Benefit limits
• D)Guaranteed renewable
• E)Exclusions

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Definitions:

Revenue and Spending Variances

involves analyzing the differences between budgeted and actual figures for revenue and expenditures, helping businesses understand financial performance.

Planning Budget

A budget created for a specific level of activity, used as a tool for decision making and planning within an organization.

Supplies Cost

The amount spent on materials and goods required for the operation of a business that are not directly included in the final product.

Spending Variance

The difference between the actual and budgeted spending. It is used in budgetary control to identify discrepancies and manage costs.