The Health Care Reform Bill Did Not Prevent Insurance Companies

question 44

True/False

The health care reform bill did not prevent insurance companies from denying coverage to people with existing illnesses.

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Definitions:

Owner's Equity

The portion of a company's assets that belongs to the owners after all liabilities have been subtracted.

Net Income

The total earnings of a company after deducting all expenses from revenues, representing the profit.

Owner's Drawings

The amount of money taken out from the business by the owner(s) for personal use.

Income Statement

A financial statement that shows a company's revenues and expenses over a specified period, resulting in net profit or loss.