The Lifetime Maximum Is the

question 70

Multiple Choice

The lifetime maximum is the

• A)percentage of a covered expense that an individual will have to pay (after the deductible is met).
• B)percentage of a covered expense that an insurance company will have to pay (after the deductible is met).
• C)most of covered expenses that an individual will have to pay during a year.
• D)most of covered expenses that an insurance company will pay on an individual over their lifetime. It was made illegal by the PPACA.

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Definitions:

Sales

The total revenue a company generates from selling goods or services over a specific time period.

Accounts Receivable Period

The average amount of time it takes for a company to receive payments owed by its customers for goods or services provided.

Inventory

The raw materials, work-in-progress products, and finished goods that a company holds for the purpose of sale in the future.

Cost of Goods Sold

Expenses directly linked to the creation of a company's sold products.